Loan Forgiveness
On June 30, 2023, the U.S. Supreme Court struck down the program that would have provided broad聽.听
The U.S. Department of Education continues to develop additional ways to assist students in light of the Court鈥檚 decision. And there are programs that have remained in existance that may provide loan .
Repayment Restart
Both interest and repayment were previously paused due to the COVID national emergency. Legislation by Congress on June 2, 2023, to extend the debt limit and stave off U.S. default also restored interest accumulation on student loans beginning September 1, 2023, and tirggered聽loan repayment to restart in October 2023.听
Loan repayment plans have expanded and include the new . Borrowers should review options to best address their situation. Always explore how reducing monthly repayment costs might also add to the length of your loan (and associated interest) while in repayment. Learn 聽as they return to repayment.
Students should work closely with the U.S. Department of Education and toward repayment efforts, with loan management, and to avoid .听
Beware of Scams
With the previously announced student debt cancellation and repayment now restarting, a new wave of scams began trying to gain access to personal and financial information. The Federal Trade Commission (FTC) and U.S. Department of Education (ED) remind borrowers to be on alert.
Department of Education loan assistance does not have a fee, and borrowers聽苍别惫别谤听have to pay for information or pay to sign up for any federal loan management or repayment program. Additionally, borrowers will not receive calls or texts about programs. ED emails will come from the following addresses:聽聽noreply@studentaid.gov,听noreply@debtrelief.studentaid.gov, or聽ed.gov@public.govdelivery.com.
Web links should only take you to聽. You can always bypass any links of concern in an email and go directly to that official website for federal student aid information.
聽any suspicious activity to the FTC.