News from Representative Luria

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Dear Friend,


An important concern during the COVID-19 crisis is the status of student loans. On March 27, I voted for the Coronavirus Aid, Relief, and Economic Security (CARES) Act, which includes provisions designed to assist many student loan borrowers during this difficult time. Below is an FAQ about student loan relief under the CARES Act.


Do I need to make student loan payments during this crisis?


The CARES Act provides relief to most federal loan borrowers. It suspends payments and interest accrual on most federal loans until September 21, 2020. This suspension of payments will not adversely impact borrower’s eligibility for loan forgiveness. The CARES Act also suspends debt collection on federal loans, including prohibiting wage garnishment, tax seizure, and benefits reduction. The Department of Education’s Office of Federal Student Aid is providing updates here. You may also call them at 1-800-872-5327 for more information. Borrowers who still desire to pay their student loans, may continue to do so.

While debt collection is paused for eligible federal student loans, debt collection may continue for other consumer loan obligations.


What types of student loans are covered?


All student loans owned by the Department of Education are covered under the CARES Act. This includes having interest waived and payment suspended. Eligible loans may include Direct Loans, Perkins Loans, and Federal Family Education Loan (FFEL) Program loans held by the Department of Education. FFEL Program loans owned by private lenders, and some Perkins Loans, owned by the college or university you attended, are not covered. Private student loans also are not eligible for protection, but you may contact your private student loan provider to see if they will provide payment or interest relief.


Who should I contact if my servicer is still taking my student loan payments?


If you’re having issues with your student loans, you may want to contact your student loan servicer first. To learn who your student loan servicer is, call Federal Student Aid at 1-800-433-3243.

If your student loan servicer is unable to assist you, you can submit a complaint with the Consumer Financial Protection Bureau (CFPB) through their complaints webpage. You can also contact the CFPB at (855) 411-2372.


What about third parties offering assistance in accessing the student loan relief provided in the bill?


Please be cautious regarding individuals or companies offering to cancel or lower your student loan payments in exchange for an upfront fee. Borrowers with federal student loans struggling to make their payments can access free various repayment programs offered by the Department of Education.

Please know that my team and I stand ready to assist our community during this time of need. For resources to help you and your family navigate through COVID-19, please see here. If you have any questions, please feel free to reach out to our offices via the phone numbers below.






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