The Money Coach
  • About
    • Meet Lynnette
    • Media Kit
  • Contact
  • Subscribe
  • QR Code
  • Books
  • Categories
  • Coaching
  • Hire Lynnette
  • Money Coach University™
  • The Money Coach Recommends™
No Result
View All Result
The Money Coach
  • About
    • Meet Lynnette
    • Media Kit
  • Contact
  • Subscribe
  • QR Code
No Result
View All Result
The Money Coach
No Result
View All Result

COVID-19: Getting Relief From Your Private Student Loans – VIDEO

Lynnette Khalfani-Cox, The Money Coach by Lynnette Khalfani-Cox, The Money Coach
in Covid-19 Video, Student Loans
Reading Time: 2 mins read
Share on FacebookShare on TwitterShare on LinkedIn

Lynnette shares good news for people who need help paying their private student loans during the COVID-19 pandemic.

Transcription

Lynnette Khalfani Cox: If you have private student loans and it’s been a struggle for you to keep up with those payments during the COVID 19 outbreak, I’ve got some good news for you.

Recently, lawmakers in 10 states reached an agreement with 20 different private student loan companies to bring you some relief. Essentially, what they’ve said is that the companies agreed that you will not have to make any payments. You have a forbearance for 90 days minimum, so three months without going to make any payments.

They also have suspended debt collection lawsuits for 90 days. They’re waiving late payments. They’re also making sure that you don’t get any negative marks put on your credit report as a result of your private student loan payments, or the lack thereof.

Then, they’re also working with borrowers to make sure that you have the assistance you need or you’re in the right programs. Maybe you need to get in a program that has an income based component to it.

This is, again, good news for those of you who have private student loans. Some of you might have remembered that back in March when the CARES Act passed, there was federal student loan relief granted to federal borrowers because they don’t have to make payments for six months until September 30th, 2020. Now, those of you who have private student loans can get a little extra relief, as well.

I mentioned that there’s 20 companies involved. It includes a variety of them, everyone from SoFi Lending, to Nelnet, to Navient. You should get online or even call your private student loan company and see if they’re among the entities that entered into this multi state agreement.

Who are the states? I know some of you are like, “What are the states? Do I qualify?” Yes, you do if you are a resident in one of these 10 states. Let me tell you what they are. It’s California, Colorado, Connecticut, Illinois, Massachusetts, New Jersey, New York New York actually struck their own deal before the multi state accord was reached Vermont, Virginia and Washington.

Again, if you do have private student loans and it’s been a struggle for you to keep up with those payments, you have to reach out to your private student loan company or your loan servicing agent and ask for this relief. It’s worth it, though, to make that phone call.

Tags: private student loans
Previous Post

COVID-19: Getting Relief From Your Private Student Loans

Next Post

A Lesson in Economic Violence

Related Articles

Adult Student Loans

Simple Reasons To Pay Your Adult Child’s Student Loans

by Lynnette Khalfani-Cox, The Money Coach

If you’re considering paying your adult child’s student loans here are 10 scenarios to consider saying YES, NO or MAYBE to repaying that college debt. 

Question About For-Profit Colleges and Student Loan Forgiveness

by Lynnette Khalfani-Cox, The Money Coach

After I posted 15 answers to Biden’s student loan forgiveness plan,  I received a lot of questions on my social media accounts about student loan forgiveness. I received the following question about the plan's impact on certain for-profit colleges.

Student Loan Forgiveness

Student Loan Forgiveness: The Biden Plan Explained

by Lynnette Khalfani-Cox, The Money Coach

Here's what is known so far about the new student loan cancellation program, how you can get student loan forgiveness, the surprising ways that past and future generations of college students will benefit, and what’s NOT included in the Biden plan.

CARES Act: Student Loan Relief

Get Your Employer to Pay $5,250 of Your Student Loans in 2020: FAQs About the CARES Act

by Lynnette Khalfani-Cox, The Money Coach

I recently posted a student loan tip on social media that went crazy viral! It racked up tons of traditional media coverage, plus many thousands of likes and shares (not to mention comments and questions!) across Twitter, Facebook and Instagram -- far more than any other single post I've shared. So what was the tip? The CARES Act offers a...

Lynnette Khalfani-Cox

COVID-19: Managing Your Finances in the Era of Coronavirus – VIDEO SERIES

by Lynnette Khalfani-Cox, The Money Coach

Lynnette Khalfani-Cox, The Money Coach, has read all 880 pages of the $2.2 trillion CARES Act passed by Congress to stabilize the U.S. economy in the wake of the COVID-19 emergency and the coronavirus pandemic. In this collection of videos, Lynnette explains how Americans can benefit from the CARES Act in numerous ways, including getting stimulus checks; unemployment benefits; help...

SNAP Benefits

COVID-19: Getting SNAP Food Benefits While You’re Unemployed

by Lynnette Khalfani-Cox, The Money Coach

In this video, Lynnette shares information on available SNAP food benefits and resources to anyone that needs help.

Load More

All information on this blog is for educational purposes only. Lynnette Khalfani-Cox, The Money Coach, is not a certified financial planner, registered investment adviser, or attorney. If you need specialty financial, investment or legal advice, please consult the appropriate professional. Advertising Disclosure: This site may accept advertising, affiliate payments or other forms of compensation from companies mentioned in articles. This compensation may impact how and where products and companies appear on this site. AskTheMoneyCoach™ and Lynnette Khalfani-Cox, The Money Coach® are trademarks of TheMoneyCoach.net, LLC.

©2009-2023 TheMoneyCoach.net, LLC. All Rights Reserved.

RSS / Sitemap / Privacy Policy / LynnetteKhalfaniCox.com

No Result
View All Result
  • Books
  • Categories
  • Contact Lynnette
  • Get Coaching
  • Hire Lynnette
  • Money Coach University™
  • The Money Coach Recommends™
  • Home
  • Subscribe to Newsletter
  • QR Code

©2009-2021 TheMoneyCoach.net, LLC. All Rights Reserved.