Any borrower who is more than 31 days delinquent as of March 13, 2020, will have an automatic suspension of payments for the duration of the declared emergency.

Betsy DeVos, U.S. Education Secretary, announced today that the Education Department has stopped all collection actions, wage garnishment, and other offsets of defaulted student loan borrowers.

“These are difficult times for many Americans, and we don’t want to do anything that will make it harder for them to make ends meet or create additional stress,” DeVos said in a statement. “Americans counting on their tax refund or Social Security check to make ends meet during this national emergency should receive those funds, and our actions today will make sure they do.”

During this time, it’s important to connect with an IonTuition concierge advisor so we can place your loan into a sustainable repayment plan or into temporarily interest-free postponement option.

If you’ve lost income due to the COVID-19 outbreak, you can benefit from an income-driven plan with payments as low as $0 per month. We can also provide guidance about unemployment deferment and forbearance by explaining how each option works based on your current financial situation.

Contact a concierge advisor today for expedited servicing.