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Information on Federal Student Loans

  • The CARES Act provides broad relief for federal student loan borrowers during the COVID-19 national emergency, federal student loan borrowers are automatically being placed in an administrative forbearance, which allows you to temporarily stop making your monthly loan payment. This suspension of payments will be from March 13, 2020, through Sept. 30, 2020.
    • During this period interest rate for these loans will not accrual, there will be no negative credit reporting and no forced collections
    • Please note commercial lenders own some FFEL Program loans, and some Perkins Loans are owned by the institution you attended. These loans are not eligible for this benefit at this time. For additional information on how this applies to you, please visit the U.S. Department of Education website.
  • Involuntary collections like wage garnishment and the reduction of tax refunds or other federal benefits will also be suspended. 
  • The following student loans are eligible for payment relief administered by the U.S. Department of Education:
    • Federal Direct Stafford Loans
    • Federal Direct Grad PLUS Loans
    • Federal Direct Parent PLUS Loans
    • Federal Direct Consolidation Loans
    • Federal Family Education Loan (FFEL) Program Loans
    • Federal Perkins Loans


Information on Pell Grants

  • The CARES Act includes assistance for students who depend on Pell Grants to support their education. Any student who must withdraw from school due to COVID-19 will not be required to return unused Pell Grants or federal student loans. The CARES Act protects these students’ future eligibility to the Pell Grant or other federal aid programs. Any semester of school that is not completed due to a qualifying emergency will not be added to the 12 full-time semester limits for receiving Pell Grant awards.


Information on Federal Work Study

  • Colleges and universities are permitted to continue paying students who participated in the Federal Work Study program but were unable to fulfill their work-study obligation due to a qualifying emergency. Under the CARES Act, institutions can pay these students either through a one-time grant or as multiple payments. Reach out to your financial aid office for more information.


Additional Resources

  • We encourage you to review the higher education provisions from the CARES Act found in this CRS fact sheet.
  • The Consumer Financial Protection Bureau can also review complaints and help to navigate financial products like student loans. You can submit a complaint on the Consumer Financial Protection Bureau website or by contacting them at 855-411-2372.
  • My office is always available to help with this process. Contact my Albuquerque office at 505-346-6601 should you have any questions or need assistance.

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