How to Stop Making Student Loan Payments During the Coronavirus Outbreak
Review the terms of the administrative forbearance.. Identify your loan servicer.. Check with your loan servicer to make sure your account is updated.
Steps
Review the terms of the administrative forbearance.
Review the terms of the administrative forbearance.
Identify your loan servicer.
Identify your loan servicer.
Check with your loan servicer to make sure your account is updated.
Check with your loan servicer to make sure your account is updated.
Apply for an additional forbearance if you still need help after September 30.
Apply for an additional forbearance if you still need help after September 30.
Switch to an income-based repayment plan if your income has changed.
Switch to an income-based repayment plan if your income has changed.
Confirm that your loans are not eligible for automatic forbearance.
Confirm that your loans are not eligible for automatic forbearance.
Contact your lender as soon as possible.
Contact your lender as soon as possible.
Log in to your account online to review repayment options.
Log in to your account online to review repayment options.
Request a coronavirus disaster forbearance.
Request a coronavirus disaster forbearance.
Check your account to verify that the forbearance has been applied.
Check your account to verify that the forbearance has been applied.
Contact your school's financial aid office.
Contact your school's financial aid office.
Find out if you're eligible for additional aid due to changed circumstances.
Find out if you're eligible for additional aid due to changed circumstances.
Apply for an emergency grant to help cover virus-related expenses.
Apply for an emergency grant to help cover virus-related expenses.
Make arrangements to continue getting paid for work-study.
Make arrangements to continue getting paid for work-study.
Keep any financial aid you received before dorms were closed.
Keep any financial aid you received before dorms were closed.
Apply for financial aid for next year even if you've exceeded the limits.
Apply for financial aid for next year even if you've exceeded the limits.
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