Washington — The U.S. Department of Education’s Office of Federal Student Aid has published an extensive FAQ addressing student loans, including answered questions that cover several new provisions from the Coronavirus Aid, Relief and Economic Security Act.
The CARES Act, which became law March 27, placed federal student loan borrowers in an administrative forbearance from March 13-Sept. 30, allowing them to temporarily stop making monthly loan payments. During this time, federal student loan borrowers are not required to make a payment and no interest will accumulate on their federal loans.
The automatic forbearance applies only to federal education loans. Those dentists with private loans should contact their loan servicer to see what forbearance options are available.
The Federal Student Aid’s FAQ covers many other loan-related questions and the office said it will be adding information for students, borrowers, and parents to this page on a regular basis, “so please check back frequently.”
Dentists who have refinanced or combined their educational debt through Laurel Road, which services the ADA Student Loan Refinancing Program, can contact Laurel Road’s servicing partner (MOHELA) at 1-877-292-6845.
To read the FAQ, visit StudentAid.gov.