What You Need To Know On Student Loans
During this time of crisis, many individuals with student loans have not been able to make the regular payments owed while balancing the need to pay bills and other necessities to survive. With that in mind the U.S. Department of Education has directed the FSA to stop any wage garnishment and collections actions for student loan borrowers over a designated time frame.
The time period will cover 60 days and has a retroactive start date of March 13, 2020. In addition to halting the garnishments and collections of student loans, U.S. Secretary of Education Betsy DeVos also directed the Department to refund approximately $1.8 billion to the nearly 830,000 borrowers impacted.
Our team at MNMW is working constantly to bring you the most recent news and updates related to the COVID-19 crisis that could impact you and your loved ones. In a continuing effort to maintain the health and safety of our valued clients, our team, and the community and to cooperate with the advice of health officials, MNMW lobbies in Fort Myers and Naples will be closed to the public until further notice.
For more information you can visit our MNMW Coronavirus (Covid-19) Resource page with the button below or call in at (239) 433-5554.