Federal Student Loan Debt Relief Program
VCU is committed to keeping you updated with changes to the student loan program.
UPDATE: Student loan debt relief currently is on hold.
Courts have issued orders blocking the Department of Education (ED) from accepting and processing applications for the one-time federal student loan debt relief program. ED has appealed the rulings seeking to overturn the orders.
Here’s what you need to know:
- If you already applied, your application is on hold until a final decision has been made. ED and Federal Student Aid (FSA) will send you updates as new information is available.
- If you qualify but haven’t applied, you will need to wait until a final court decision is made. If the program is upheld, you will need to submit an application when it reopens.
- The student loan payment pause is extended until the court cases have been resolved. Payments will resume 60 days after that. Borrowers will be notified before payments start.
Where to Get Updates
Misinformation spreads rapidly on the subject of student loan debt relief and the payment pause. Make sure you have accurate and up to date information by subscribing to alerts from ED and FSA.
ED continues to warn borrowers about scam attempts to take advantage of them. Beware of any source that is not directing you to FSA or your loan servicer.
If you haven’t already, you should register for an online account with your loan servicer and confirm they have your current contact information. Your loan servicer will notify you if the debt relief is processed and when your monthly payments will start.
Additional Help with Student Loan Repayment
With 42 million borrowers wanting to know if and when debt relief may be possible, it may be difficult to reach someone to get answers. That’s where Student Connections can help!
VCU has partnered with Student Connections to make sure every borrower who is eligible for loan forgiveness receives it, and help any borrower with a remaining balance to navigate and prepare for payments to resume in 2023. This service is completely free to you.
Student Connections Borrower Advocates can help answer any questions you have and determine what steps you need to take.
While you are in student loan repayment, Student Connections may contact you through emails, text messages and phone calls to:
- Help you understand your loan obligations and responsibilities.
- Discuss available options for an affordable repayment plan.
- Ensure you are aware of repayment options during financial hardships.
- Promote your long-term repayment success.
These advocates are available to answer questions about your outstanding loans and, when appropriate, work with you and your loan servicer. Visit www.repaymyloans.org or talk to a borrower advocate for free at (866) 311-9450.
Who is Student Connections?
Student Connections is passionate about helping students. They partner with schools to provide support for borrowers throughout the student loan repayment process. With more than 60 years of experience in counseling student loan borrowers, their primary goal is to help establish the best repayment plan for you.