COVID Student Loan Relief Ending-3 Things To Do Now

First payments due 2/1 as the relief expires 1/31/22.

  1. Private Loans could be consolidated at record low interest (you can do this with federal loans as well but only through private banks which disqualifies you for any forgiveness programs).
  2. Make sure your contact information is up to date including payment method.  Many servicers stopped managing loans during the pandemic.  This means your loan will not change but if the service provider did you may need to set up a repayment account.  This is vital since qualifying for forgiveness is based on not missing any payments.
  3. If you are on an income based repayment plan you need to make sure you have updated your income info, state of residence, and family size with any changes.  Those factors affect the amount of your payment.