Debt Relief Updates

Last updated: 6/30/23

June 2023: The Supreme Court has reached a decision on the one-time Federal Student Loan Debt Relief program, ruling it unlawful. As a result, borrowers can no longer pursue this as an option to cancel their student loan debt. Additionally, benefits provided by the CARES Act (payment pause and 0% interest) will expire starting September 1st and will not be extended further. These programs are only applicable to borrowers with loans held by the Department of Education (ED). Navient no longer services these loans, so any loans you have with us are not eligible.

We encourage you to visit StudentAid.gov for the latest information.

Important: Beware of offers for debt relief for a fee – these are services your student loan servicer does for free. You never have to pay for help. Protect yourself from student loan debt relief scams.

November 2022: It was announced that applications for the one-time Federal Student Loan Debt Relief are no longer being accepted and the CARES Act would be extended until as late as June 30, 2023 (the extension may expire earlier depending on the timing of court rulings pertaining to the debt relief program) for borrowers with loans held by ED.

August 24, 2022: The Biden Administration announced student loan forgiveness and the extension of the CARES Act for borrowers with loans held by ED.

I only have FFELP (Federal Family Education Loan Program) loans serviced by Navient. Am I eligible for the loan cancellation program announced by the Department of Education on August 24, 2022?

• Only loans held by the Department of Education are eligible for the loan cancellation program. As of September 29, 2022, ED issued a FAQ announcing that borrowers with federal student loans not held by ED cannot obtain one-time debt relief by consolidating those loans into Direct Loans.

Why are my FFELP loans not eligible for the CARES Act payment pause?

• When the CARES Act was announced in March 2020, only loans held by the Department of Education were eligible for the CARES Act benefits – and that guidance did not change with this announcement. Navient no longer services Department of Education loans.

Can I request a refund on payments I’ve already made on my account?

• Only loans held by the Department of Education are eligible to have payments since March 2020 refunded.

Are private education loans included in the August 24 loan cancellation announcement?

• The August 24 announcement applies to federal loans only – private loans are excluded from this forgiveness and the provisions of the CARES Act.