NewsLocal NewsMichigan

Actions

Michigan to ease up on payment requirements on state student loans

WXMI_Default-Image_1280x720.png
Posted at 11:11 AM, Apr 28, 2020
and last updated 2020-04-28 11:11:48-04

LANSING, Mich. — A number of forms of relief are being activated on student loans that are guaranteed by the state, says the Michigan Department of Treasury.

The actions are connected to delinquent student loans in the Federal Family Education Loan Program and loans serviced by the Michigan Guaranty Agency.

Collections on those loans are suspended until September 30, 2020. Thjat included wage garnishment and offsets to pay FFELP student loans. There will be no penalties for missed payments during that period.

Anyone having difficulties with their FFELP loans serviced by the Michigan Guaranty Agency should call 800-642-5626.