While many people with federal student loans have been granted more Flexibility during the Covid-19 pandemic, borrowers with loans for private students so far have been left out. Now, borrowers with private federal family education loans default can take advantage of the same Flexibility, says the Department of Education.

FFEL borrowers in non-compliance will be awarded the same 0 percent interest and pauses collections that borrowers with federal loans from students received in March 2020. The change is retroactive at the beginning of the pandemic .

That means that the Borrowers of FFEL in the default value have had their salary or reimbursements seized during the pandemic will have those funds returned. The borrowers who made voluntary payments on those loans with non-compliance will have the option of a refund. 

 



Categories:
Flexibility 

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