Providing assistance to our customers and employees during the COVID-19 emergency is our top priority at this time. We are closely monitoring the latest updates from government and health organizations and will post any updates that may impact you on this page. Disclaimer: This information is subject to change, based on future guidance from the Department of Education. For more information, please visit StudentAid.gov/Coronavirus. COVID-19 Emergency Information Regarding Department of Education (ED) Owned Student Loans NOTE: If you have commercially held loans, view the options available for your loan type below under COVID-19 Emergency Information Regarding Commercially Held Student Loans. If you are not sure of your loan type, contact your student loan servicer, or visit Finding Your Student Loans for more information. Temporary Interest Rate Reduction On March 27, 2020, the Coronavirus Aid, Relief, and Economic Security (CARES) Act became law, providing relief measures in response to the COVID-19 emergency. Under the CARES Act, all federally held student loans (including Parent PLUS loans) received a temporary 0% interest rate starting on March 13, 2020. On December 22, 2021, the COVID-19 emergency relief measures were extended through May 1, 2022. The 0% interest rate will remain in effect through May 1, 2022. COVID-19 Emergency PAYMENT SUSPENSION Under the CARES Act and the recent December 22, 2021 extension, all payments due on federally held student loans will be suspended (stopped) through May 1, 2022. Your student loan servicer will be applying a payment suspension through May 1, 2022 on all federally held student loans, with some exceptions. WHAT DOES THIS MEAN FOR YOU? You do not need to request the payment suspension; your student loan servicer will automatically apply it to your account as directed by the U.S. Department of Education. You will not have to make payments on your loans through May 1, 2022. No interest will accrue while the 0% interest rate reduction is in effect (March 13, 2020 through May 1, 2022). You may request to opt out of the payment suspension (tell your student loan servicer to end it) at any time. If you are enrolled in an automatic debit program, no payments will draft through May 1, 2022. You may still choose to make a payment at any time. Since interest is not accruing on your account through May 1, 2022, it is a great time to make payments to continue to reduce your principal balance. If you are currently on an Income-Driven Repayment (IDR) plan, you will not be required to recertify your IDR plan before the end of the COVID emergency relief period. As part of the payment suspension, your recertification date has been pushed out from your original recertification date. You will be notified of your new recertification date before it is time to recertify. Time Spent in PAYMENT SUSPENSION MAY Count Towards Forgiveness Programs Good news! Time spent in the payment suspension as a result of the COVID-19 emergency will still count as qualifying months towards loan forgiveness programs, such as Public Service Loan Forgiveness (PSLF) and Income-Driven Repayment (IDR) forgiveness. Paused payments count toward IDR forgiveness and PSLF as long as you meet all other qualifications. You will receive credit as though you made on-time monthly payments in the correct amount while on a qualifying repayment plan. To see these qualifying payments reflected in your account, you must submit a PSLF form certifying your employment for the same period of time as the suspension. Your count of qualifying payments toward PSLF is officially updated only when you update your employment certifications. For more information about PSLF, please visit https://studentAid.gov/PSLF. On October 6, 2021, the U.S. Department of Education announced a temporary period during which you may receive credit for payments that previously did not qualify for PSLF or Temporary Expanded PSLF (TEPSLF). This waiver is only available through October 31, 2022. To learn more about this limited PSLF waiver, please visit https://studentaid.gov/pslfwaiver. COVID-19 Emergency Information Regarding Commercially Held Student Loans NOTE: If you are not sure of your loan type, contact your student loan servicer, or visit Finding Your Student Loans for more information. Commercially held student loans do not qualify for the temporary 0% interest rate reduction or suspension of payments under the CARES Act or extension. However, there are other options available to assist you with your student loan payment. There are numerous repayment plans available, including Income-Based Repayment (IBR), as well as deferment and forbearance options to temporarily suspend payments. If you have Federal Family Education Loans (FFEL) and/or Perkins Loans, you may be able to consolidate these loans into a Direct Consolidation Loan, which would allow you to take advantage of the 0% interest waiver and payment suspension currently offered through May 1, 2022 on federally held loans. Loan consolidation provides access to additional forgiveness options and repayment plans but may result in the loss of certain benefits so we encourage you to visit https://studentaid.gov/manage-loans/consolidation to learn about the pros and cons of consolidating your FFEL loans. On October 6, 2021, the U.S. Department of Education announced a temporary period during which you may receive credit for payments that previously did not qualify for PSLF or Temporary Expanded PSLF (TEPSLF). This waiver is only available through October 31, 2022. To learn more about this limited PSLF waiver, please visit https://studentaid.gov/pslfwaiver. Private Student Loans If you have a private student loan and need assistance, please contact your student loan servicer to speak with a customer service representative. Please visit this page for additional updates.