The recently signed CARES Act suspends payments and waives interest for federal student loans held by the U.S. Department of Education through September 30, 2020. The U.S. Department of Education began waiving interest on federal loans on March 13, 2020.

For borrowers with defaulted federal student loans, the CARES Act is also stopping involuntary collection activities through September 30, 2020, including wage garnishments, social security benefits, and tax refund interceptions. Additionally, payments are suspended for borrowers enrolled in rehabilitation plans.

Borrowers should receive information about these changes from their servicers by the middle of April.

You can learn more about the COVID-19 interest waiver, what loans qualify, how to manage repayment, and the stoppage of involuntary collection here.

The Attorney General’s Student Loan Assistance Unit assists residents who are having difficulty affording their student loans or are having problems with their servicer. The Student Loan Assistance Unit helps borrowers: explore payment options; apply for federal income-driven repayment plans; avoid default or get out of default; end wage garnishments, tax refund interceptions, or benefit offsets; resolve billing disputes with loan servicers; obtain loan details and information; stop harassing collection calls; or, apply for discharges.