Americans across the country are experiencing furloughs, layoffs, and other financial shock related to the coronavirus pandemic. Millions of student loan borrowers are struggling to understand their options and to manage their payments during this challenging time. The SPBC has created resources and information to help guide borrowers on their student loan repayment, as well as new research and analysis to advocate for borrower protections.
Information & Resources for Borrowers During the Coronavirus Pandemic
Webinar on Student Loan Repayment Options
In partnership with the American Federation of Teachers, we created a webinar on how to manage your student loans during this public health crisis.
- What to do if you are furloughed or out of work
- Tips for enrolling in an income-driven repayment plan
- How to get out of default and avoid federal tax refund offsets
- Options if you have private student loans
Frequently Asked Questions on Student Loan
Repayment Options During COVID-19
Follow the link below for answers to questions you may have about options for paying your student loans during this time.
Note: Income Driven Repayment recertification dates that occur during the payment suspension period have been extended by six months
Overview of Protections for Federal Student Loan Borrowers in the CARES Act
State-Level Student Borrower Support2020-State-Student-Loan-Ombuds-Resources
Advocating for Borrowers & Combating Predatory Practices
Policymakers and private companies have a critical role to play right now in providing relief to student loan borrowers. Our research and analysis below advocates for borrower protections and spotlights mismanagement and predatory practices in the student loan system related to COVID-19:
- A Default Every 26 Seconds: Why the Spike in Student Loan Defaults Should Serve as a Warning to Industry and Policymakers
- How Only Temporarily Pausing Student Loan Payments is Setting Borrowers Up for More Problems in the Near Future
- The Dangers of Leaving Student Loan Servicers Responsible for Handling Payment Pauses During the Pandemic
- How the Stimulus Relief Leaves Too Many Federal Student Loan Borrowers Behind
- Joining with the American Federation of Teachers (AFT) to Urge Government and Industry Action to Protect Student Loan Borrowers During the Pandemic
- Joining with Americans for Financial Reform (AFR) to Urge Industry to Protect Private Student Loan Borrowers Left Out of the Stimulus