> Sorry for the corrupted images in the message below.
From: Councilmember Kenyan R.
McDuffie <kmcduffie@dccouncil.us>
Sent: Friday, May 1, 2020 6:28 PM
Subject: May 1 Coronavirus Response - Student loan help, extended
deadlines to appeal your property tax assessment, and Brookland's Finest is
BACK!
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Below are
today's updates on the District's response to the coronavirus
pandemic. For the latest and most comprehensive information always
visit http://coronavirus.dc.gov.
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Relief for
Residents Struggling with Student Loan Payments Due to COVID-19
Pandemic
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Mayor
Bowser announced expanded financial relief options for District
residents who are struggling to pay private education loans due to
the coronavirus (COVID-19) public health emergency. The initiative,
launched by the District and several states, will provide
qualifying District residents with loan forbearance and other
financial protections.
Residents with commercially-owned Federal Family Education Loan
Program (FFELP) loans or privately-held student loans who are
struggling to make their payments will be eligible for expanded
relief. Twelve private education loan servicers have backed the
initiative.
Relief options under the initiative include:
- Providing a minimum
of 90 days of forbearance
- Waiving late
payment fees
- Ensuring that no
borrower is subject to negative credit reporting
- Ceasing debt
collection lawsuits for 90 days
- Working with
borrower to enroll them in other borrower assistance programs,
such as income-based repayment
If
regulated student loan servicers are limited in their ability to take
these actions due to investor restrictions or contractual
obligations, they should proactively work with loan holders to
relax those restrictions or obligations.
The new initiative will help fill a gap by the Coronavirus Aid,
Relief, and Economic Security (CARES) Act. That law provides relief
for borrowers with federal loans, including the suspension of
monthly payments, interest, and involuntary collection activity
through September 30, 2020. However, the CARES Act left out
millions of student loan borrowers with federal loans that are not
owned by the federal government, as well as loans made by private
lenders.
Borrowers in need of assistance must immediately contact their
student loan servicer to identify their best options. To get
details on their federal loans and servicers, they may visit the
U.S. Department of Education’s (DOE) National Student Loan Data
System at nslds.ed.gov, or call DOE’s
Federal Student Aid Information Center at 1-800-433-3243 or
1-800-730-8913 (TDD). Borrowers with private student loans may
check the contact information on their monthly billing statements.
States joining the District in this effort include California,
Colorado, Connecticut, Illinois, Massachusetts, New Jersey,
Vermont, Virginia, and Washington.
The 12 private student loan servicers providing relief are:
- Aspire Resources,
Inc.
- College Ave Student
Loan Servicing, LLC
- Earnest Operations
- Edfinancial
- Kentucky Higher
Education Student Loan Corporation
- MOHELA
- Navient
- Nelnet
- Rhode Island
Student Loan Authority
- SoFi Lending Corp.
- Tuition Options
- Utah Higher
Education Assistance Authority
- Vermont Student
Assistance Corporation
For
additional resources regarding student loans, borrowers can
contact:
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Property Tax
Appeals and Other Deadlines Extended
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Mayor Announces
Deal to Build a New East End Hospital and Expand Howard University
Hospital
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Yesterday,
Mayor Bowser announced two agreements which include the
construction of two new, state-of-the-art hospitals in DC:
- a 136-bed hospital
at St. Elizabeths East in Ward 8, operated by Universal Health
Services in conjunction with George Washington University and
George Washington Medical Faculty Associates (GWMFA); and
- a 225-bed Howard
University Hospital on Georgia Avenue NW in Ward 1.
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Comcast Offering
Two Months of Free Internet Service
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Small Business
Spotlight: Brookland's Finest is Back!
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