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Information for student loan borrowers

Student loan borrowers now have more benefits to consider when planning for the potential financial impact from coronavirus.

What you need to know

A new federal law, the Coronavirus Aid, Relief, and Economic Security (CARES) Act, provides automatic suspension of principal and interest payments on federally-held student loans through September 30, 2020.

These suspended payments will count towards any student loan forgiveness program, as long as all other requirements of the loan forgiveness program are met.

Learn more about suspended payments

Learn about changes to the Public Service Loan Forgiveness program

What to do if you can't make payments

If you are experiencing hardship or a loss of income and can’t afford your payment for your non-federally held loans, you should contact your servicer as soon as possible. They can discuss options with you.

For all other matters, see if you can find out information on your servicer’s website, then call your servicer if you need additional help.

See what to do if you can't make your payments

What to do if your loan is in default

If someone contacts you to pay a fee to suspend your payments

This is a scam. The federal government will not ask for a fee to suspend your payments, and you do not need to pay someone to help with your student loans. There is no action required of you. If someone asks for money to suspend your payments, you should report them to the FTC’s complaint assistant .

Learn more about student loan debt relief scams

Other federal resources