September student loan deadlines approaching
Two student debt relief programs, the student loan on-ramp and Fresh Start programs, will expire on Sept. 30, according to a report from cleveland.com.
Borrowers were advised to log into their student aid accounts to determine which programs they may be a part of. For instance, those with missing or late payments have been enrolled into the on-ramp program, whereas those whose loans are listed as “in default” have been enrolled into the Fresh Start program.
About 3 million borrowers may be a part of the on-ramp program. These borrowers should make plans to pay their late payments within 270 days to avoid entering student loan default and facing debt collectors. Borrowers can also consider income-driven repayment plans or student loan deferment or forbearance options.
Further, it is estimated that about 7.5 million? student loan borrowers who are in default may be eligible to enroll in the Fresh Start program by Sept. 30. Through the program, borrowers will have access to federal student aid, flexible payment plans and, potentially, loan forgiveness.
Read more: cleveland.com
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