Student Loan Payments to Restart After December 31, 2022
Gulf Coast State College is committed to keeping you updated with changes to the student loan program. The Department of Education recently announced a new one-time student loan cancellation based on income, as well as extending the payment and interest pause on federal student loans. The Aug. 24 announcement included the following steps to help borrowers transition back to regular payments as pandemic-related support expires:
- Extension of the payment pause. No payments are due and no interest will be charged through Dec. 31, 2022.
- Targeted debt relief to low- and middle-income families.
You can find all of the details about these changes at StudentAid.gov/debt-relief-announcement.
Take These Steps Now
You may be wondering what you have to do to claim this relief. Here’s how to make sure you’re getting the latest information and updates as details are announced.
- Update your contact information in your profile on both your loan servicer’s website and on StudentAid.gov.
- Sign up to be notified when the process has officially opened at the Department of Education subscription page.
- Make sure you know what you owe. Review your financial aid history and loan details on StudentAid.gov.
- Watch out for increased scam attempts to take advantage of borrowers. Remember that you never have to pay to apply for or receive relief efforts from Federal Student Aid.
Additional Help with Student Loan Repayment
Gulf Coast State College has partnered with Student Connections to make sure every borrower who is eligible for loan forgiveness receives it, and help any borrower with a remaining balance to navigate and prepare for payments to resume January 2023. This service is completely free to you. Student Connections Borrower Advocates can help answer any questions you have and determine what steps you need to take.
While you are in student loan repayment, Student Connections may contact you through emails, text messages and phone calls to:
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- Help you understand your loan obligations and responsibilities.
- Discuss available options for an affordable repayment plan.
- Ensure you are aware of repayment options during financial hardships.
- Promote your long-term repayment success.
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These advocates are available to answer questions about your outstanding loans and, when appropriate, work with you and your loan servicer. Visit www.repaymyloans.org or talk to a borrower advocate for free at (866) 311-9450.
Who is Student Connections
Student Connections is passionate about helping students. They partner with schools to provide support for borrowers throughout the student loan repayment process. With more than 60 years of experience in counseling student loan borrowers, their primary goal is to help establish the best repayment plan for you.