![]() Contact your loan servicer online or by phone to determine if your loans are eligible. Borrowers who choose to make any payments during the administrative forbearance time will have all payments credited toward the principal of the loan. of Education will automatically adjust loan accounts so the interest doesn’t accrue effective March 13, 2020. This applies to both defaulted and non-defaulted Direct Loans and Perkins Loans. Student and parent Federal loan payments will automatically stop from Mathrough Septemas part of an administrative forbearance. What is happening with Student and Parent Loans during the COVID-19 situation? Once details are known about the timeline of the funding and the eligibility criteria for students, we will make that information available. ![]() ![]() Will I be eligible for any more financial aid from the CARES ACT?Ĭollege and universities have been notified that the CARES Act will be providing additional funding, but details have not yet been provided. I heard UH Campuses are going to get money from the CARES ACT. Please note that all situations do not automatically qualify you for additional aid, and per Federal regulations and campus policy, you may need to complete additional forms and/or be required to provide documentation/proof of your situation. Extraordinary circumstances such as a significant loss of income, unexpected medical expenses, required purchase of a computer to take online courses, and other extenuating situations associated with COVID-19 are examples of situations that may be considered at the discretion of the financial aid administrator at your home campus.
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