UPDATE: The pause on federal student loan payments and interest ended in September 2023 when interest payments started accruing and full payments began in October 2023.
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The Coronavirus Aid, Relief, and Economic Security (CARES) Act passed in March 2020 includes several relevant updates to federally held student loans, including an interest waiver and payment suspension. We’re here to help you manage your student loans during this time.
On our website, you can now find the following resources to help you (or any friend who might also benefit from them) make sense of the latest legislation:
- The CARES Act and What It Means for Your Student Loans is our comprehensive guide to understanding the CARES Act provisions and how they impact your student loans.
- Do I Qualify for the CARES Act Student Loan Benefits? will help you determine if your student loans are eligible for the interest waiver and payment suspension.
- When and How to Contact your Student Loan Servicer During COVID-19 will help you determine when you should contact your loan servicer. Here you can also find the contact information of common loan servicers.
- Optimizing Your Loan Payments with the CARES Act Interest Waiver helps borrowers take advantage of the interest waiver if they want to continue making payments to pay off their loans sooner.
- Private Student Loan Relief During COVID-19 outlines several options for borrowers with private loans or loans that don't qualify for CARES Act benefits, including offerings from lenders and state governments.
We will continue to build out these resources and make updates as policies become clearer. If there are remaining questions, please feel free to reach out to hello@meetsummer.org.
We started Summer committed to helping all student loan borrowers navigate and make sense of the complex student loan landscape. Now, more than ever, we remain steadfast to that mission. We hope you and your communities are staying safe and healthy.