Having borrowers having Direct, FFEL, Fix, or Perkins money

This is the first payment pause extension that comes with a “fresh start” for borrowers whose loans are in default. stored because of the Institution out of Knowledge, these loans will no longer be in default upon the expiration of the payment pause.

Factual statements about brand new stop and next methods continues to started regarding the https://loantillpayday.net/payday-loans-la/ Agencies off Education. As always, you can examine to the newest announcements.

Whenever you are already from inside the an enthusiastic LRAP price…

Option step 1 : You can hold on to your LRAP funds for now and utilize the forbearance by not making federal student loan payments. You will owe back any unused LRAP funds to UC Berkeley at the end of your LRAP contract. Feel free to contact us if you’d like an estimate of that amount ahead of time.

Choice dos : You can use your LRAP funds as directed by your latest LRAP contract. You can either opt out of the forbearance or make manual payments on your student loans.

For people who haven’t removed LRAP yet ,…

Solution step 1 : Wait until later this summer to apply for an LRAP contract starting September 1. We’ll send periodic reminders about the best time to apply, but for now we suggest applying in August. Do not apply now if you want your contract to start in August–your information will be out-of-date by the time we issue your LRAP award.

Alternative dos : You can apply for LRAP now or as scheduled if you don’t want to utilize the forbearance and want an LRAP contract that starts before September 1.

Option step three : If you are approaching your 3.5 year deadline to enter LRAP or are otherwise concerned about the deadline, but still want to utilize the federal forbearance, you can apply to pre-qualify for LRAP now.

While desire PSLF…

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