Longtime Delaware Association of School Administrators corporate supporter, Horace Mann, wants to ensure you’re aware of the latest updates around federal student loans and provide some additional resources. Click the links throughout the communication below for more information on each topic.
Student loan relief extended - The U.S. Department of Education announced the final extension of student loan relief through Jan. 31, 2022.
What this means:
- Eligible federal student loans (not private loans) will continue to incur 0% interest and will not require monthly payments through Jan. 31, 2022
- These forgiven payments will continue to count toward the number of payments required for the Public Service Loan Forgiveness (PSLF) program
- Collection on defaulted loans will still be on hold
Here’s why it’s so important to get student loans in order now before the relief period ends.
FedLoan Servicing update - FedLoan Servicing, one of the organizations that supports the U.S. Department of Education's ability to service student loans, is not renewing its contract for servicing federal student loans. It's still being determined who will be servicing federal student loans and running the PSLF program, but here are important actions you can take so you’re prepared.
Find out how you can partner with Horace Mann to help keep your employees up to date on these important topics. Click here to schedule a brief appointment.