Information & Resources for Borrowers During the Coronavirus Pandemic

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.

Webinar on Student Loan Repayment Options

To support borrowers, we have created a webinar on how to manage your student loans during this public health crisis.

Webinar includes:

  • 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

Please note that the webinar was recorded on April 1, 2020 prior to the Department of Education releasing updated guidance.

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.

Student Debt Repayment During COVID-19

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

Federal Borrower Protections in the CARES Act

State-Level Student Borrower Support

2020-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:

Lawsuits

Analysis

Letters

Statements