Student loan borrowers — in particular, federal student loan borrowers — do have some options for managing student loans during this time of hardship. Start assessing your situation and making a plan of action.
As Congress and the President work towards providing economic relief, we will do our best to stay on top of the latest developments. You can check back here periodically, as well as Attorney Minsky’s Forbes page, where he frequently posts articles on breaking developments. You can also follow Attorney Minsky on Twitter, LinkedIn, and Facebook.
Here is the most up-to-date information we have on various student loan protections enacted in response to the COVID-19 Pandemic:
Update, 3/20/2020: The U.S. Department of Education announced new relief for student loan borrowers: a special administrative forbearance of up to 60 days, and relief from automatic payments during times of delinquency. Learn more here.
Update 3/25/2020: The U.S. Department of Education has announced that it will be suspending forced collections on defaulted federal student loans, including wage garnishments and tax refund seizures. Learn more here.
Update 3/27/2020: The President and Congress passed a stimulus bill that includes a six-month suspension of payments for many federal student loan borrowers. Learn more here. Additional details were released on 4/2/2020.
Update 4/24/2020: New efforts to provide relief to student loan borrowers may be in the works. A bipartisan bill could expand the relief provided by the CARES Act. And we are seeing new efforts to provide relief to private student loan borrowers, as well.
Update 4/28/2020: Massachusetts has enacted sweeping student loan legal protections for borrowers in collections, but those protections are now being challenged in court. Read more here.
We are committed to the health and safety of our clients as the Coronavirus crisis continues to unfold. Here are some updates to our policies and procedures:
- All client meetings will be held by phone or video conference.
- Attorney Minsky and staff will be primarily working remotely.
- For new and prospective clients, the best way to reach the office during this time would be via email or the contact form on our website.