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Student Debt Relief

You probably heard about debt forgiveness, and the elimination of student loans. Before you do anything it's a good idea to know the facts.

LOAN PAyments
The loan payment pause and 0% interest rate has been extended through December 31,2022. Be prepared by learning more about loan repayment and research your payment options on the Federal Student Aid website.

Student debt relief plan
President Biden, Vice President Harris, and the U.S. Department of Education have announced a three-part plan, the Student Debt Relief plan, to help federal student loan borrowers transition back to regular payment as pandemic-related support expires. If you’d like to receive updates from the Department of Education, you can sign-up for the Department of Education subscription page.

A Plan for loans in default
On April 6, 2022, the U.S. Department of Education (ED) announced an initiative—called Fresh Start—to help eligible borrowers that have loans in default. If your loans are eligible, you’ll temporarily regain several student aid and credit reporting benefits. You’ll also get the opportunity to get out of default and keep those benefits for the long term. Fresh Start will continue through one year after the COVID-19 payment pause ends.

Where to go for questions
If you have questions about any of these initiatives, contact your loan servicer or Solutions at ECMC, a non-profit organization that helps students, like you, manage your federal student loans and provide student loan default prevention. Services provided by Solutions at ECMC are free of charge.

  • Student loan repayment advice
  • Reduced replayment plan options
  • Forbearance
  • Deferment
  • One-on-One student loan counseling.