|
|
|
|
|
| Help Center | What's New | Other Links | Feedback | Privacy | FAP |
|
||
|
|
|
|
|
|
|
|
|
|
Hurricane Information - Hurricane Katrina Information - Federal Students Loan Borrowers
Borrowers who have questions about their Federal Direct Loan can call the Direct Loan Servicing Center at 1-800-848-0979.
Borrowers who have questions about their Federal Family Education Loan (FFEL) Program loan should contact their lender directly, or they can call 1-800-4FEDAID (1-800-433-3243).
Hurricane
Katrina FAQ's
November 1, 2005
SLB 3. To whom do I make my Perkins loan payment?
A. Federal student loan borrowers participating in the Federal Family Education Loan, Direct Loan and Perkins Loan Programs who live in an area that has been designated by FEMA for disaster assistance for individuals due to Hurricane Katrina will automatically receive a loan-payment forbearance from August 29, 2005 through February 28, 2006. During this period, impacted borrowers are not required to make monthly payments on eligible loans. This is an extension of the 90-day forbearance granted under previous guidance issued by the Department for federal student loan borrowers impacted by a disaster. No action is required by the borrower to receive the loan-payment forbearance. (9/8 updated 11/1)
SLB 2.
I understand I’m not required to make loan payments while I’m in school.
If I am forced to leave my school because it is non-operational due to Hurricane
Katrina, will I need to begin making payments on my loans?
A. Any student attending
a school impacted by Hurricane Katrina, and located in an area designated by
FEMA for disaster assistance for individuals, who had loans that were in an
"in-school" status at the time of the disaster will remain in an "in-school"
status during the period of disaster-related nonattendance. (9/9 updated 9/16)
SLB 3. To whom do I make my Perkins loan payment?
A. Federal student loan borrowers participating in the Perkins Loan Program who live in an area that has been designated by FEMA for disaster assistance for individuals due to Hurricane Katrina will automatically receive a loan-payment forbearance from August 29, 2005 through February 28, 2006. During this period, impacted borrowers are not required to make monthly payments on eligible loans. This is an extension of the 90-day forbearance granted under previous guidance issued by the Department for federal student loan borrowers impacted by a disaster. No action is required by the borrower to receive the loan-payment forbearance. If you wish to make a loan payment, contact your school or its billing/servicing agent and ask them how to proceed. If your school is not currently operating, you do not need to continue payments until the school re-opens. (9/14 updated 11/1)
SLB 4. Will the forbearance provided as a result of Hurricane Katrina affect my personal credit rating?
A. The administrative forbearance provided to federal student loan borrowers as a result of Hurricane Katrina will not adversely impact the borrower’s credit rating. (9/16)
SLB 5. What are my options if I am still displaced and can’t resume making payments on my federal student loans once the period of loan-payment forbearance ends?
A. Once the period of forbearance ends, student loan borrowers impacted by Hurricane Katrina may be eligible for a deferment during which payments may be reduced or postponed. Borrowers with Direct Loans should contact the Direct Loan Servicing Center at 1-800-848-0979 for assistance. Borrowers with FFEL loans should contact their lender directly or 1-800-4-FED-AID (1-800-433-3243). (9/16)
SLB 6. I have federal student loans and am currently in my grace period but that is due to expire on October 1. I was impacted by Hurricane Katrina and will not be able to begin making payments. Is there any relief available?
A. All federal student loan borrowers who live in an area that has been designated by FEMA for disaster assistance for individuals due to Hurricane Katrina will automatically receive a loan-payment forbearance through February 28, 2006. Once your grace period expires, you will automatically receive a loan-payment forbearance through February 28, 2006 during which time no payments are required. No action is required by the borrower to receive the loan-payment forbearance. (9/16 updated 11/1)
A. The Department of Education is proposing legislation that will relieve students of any obligation to repay the federal aid that they received for the current term at colleges and universities that have temporarily ceased operations due to Hurricane Katrina. (9/19)