Student LoanWill Laurel Road be offering forbearance for those impacted by COVID-19?
If you are experiencing an impact to your income as a result of COVID-19, you may be eligible for a forbearance or an extension. To inquire about forbearance and hardship relief due to COVID-19, please contact MOHELA at 1-877-292-6845.
For updates on Laurel Road’s response to the current coronavirus situation, please see laurelroad.com/coronavirus-response.
Student LoanThe federal government passed the CARES Act on Friday, March 27th including provisions to delay student loan payments for 6 months. How does that impact my student loan?
The federal COVID-19 response stimulus bill passed on March 27th, known as the CARES Act, delays student loan payments for six months until September 30, 2020. If you have previously refinanced your federal student loan with Laurel Road, you do not qualify for the federal waiver under the CARES Act.
If you are an existing Laurel Road customer and are experiencing an impact to your income as a result of COVID-19, you may be eligible for a forbearance or an extension of your existing one. To inquire about forbearance and hardship due to COVID-19, please contact MOHELA at 1-877-292-6845.
Student LoanCan I still take advantage of federal benefits after I refinance my federal loans with Laurel Road?
If you are refinancing any federal student loans with Laurel Road, you will no longer be able to take advantage of federal income driven repayment programs or student loan forgiveness, including but not limited to: Income Based Repayment (IBR), Pay As You Earn (PAYE) or Revised Pay As You Earn (REPAYE), and Public Service Loan Forgiveness (PSLF). For more information about the benefits of these federal programs and other federal student loan programs, please visit https://studentloans.gov.