Did the CARES Act forgive student loan debt?
The CARES Act didn’t include a provision to forgive student loan debt, but during the payment pause, thousands of borrowers have had their federal loans eliminated under existing programs the White House has worked to fix.
How should loan servicers inform student borrowers of the CARES Act?
To lessen confusion, loan servicers should do their best to inform student borrowers of the work they are doing and how the new legislation impacts them. Note: The relief under the CARES Act does not apply to private student loans or to borrowers under the old bank-based system.
How do I apply for the CARES Act student loan relief?
You can apply online through FedLoan Servicing, or you can mail the application to the address listed on the form. The CARES Act provides significant relief to many federal student loan borrowers reeling from the COVID-19 crisis.