News

Private student loans have so far been left out of federal relief efforts, including the suspension of all federal student loan payments through September initiated under the CARES Act. After mounting pressure from states, private student loan servicers are stepping up and offering their own forms of financial assistance to borrowers who are unable to make their payments during the crisis.

Though most private lenders are still collecting interest during the forbearance period, these changes are likely still a relief for borrowers in need.

Here’s how some major private student loan providers are offering repayment assistance during the COVID-19 crisis.