The Department of Education is going to alleviate both student loan interest and payment requirements for borrowers impacted by COVID-19.

Contact your loan servicer to request a forbearance due to COVID-19.

Go to www.nslds.ed.gov to get that information.

No, this is automatically done by the Department of Education.

No, it will remain the same, but the full amount will be applied to already accrued interest and/or the principal.

For at least 60 days, beginning March 13, 2020. The Department of Education may extend that period depending on the status of the COVID-19 national emergency.

Ask your loan servicer for an administrative forbearance due to COVID-19.

If you’re 31 days behind as of March 13 or become more than 31 days delinquent after that date, you’ll automatically be place in an administrative forbearance to give you a safety net during the COVID-19 emergency.

No, Department of Education doesn’t have authority over private loans.

For at least 60 days, but the Department of Education may extend this period depending on the COVID-19 status.

Possibly, if you’re pursuing some types of loan forgiveness, you may not want to go in forbearance because the time spent in forbearance doesn’t count toward the required payments.

Yes, if you can afford it, you may want to continue to pay off as much of your loan as possible while there is a 0% interest rate.

It will still stop accruing interest starting March 13, for at least 60 days. However, any interest prior to March 13 will capitalize, which means it will be added to your principal balance.

Contact the loan servicer as soon as possible to discuss options.

Ask for your monthly payment to be recalculated at any time by your loan servicer.

Not for at least 60 days, beginning March 13, 2020.