Updated COVID-19 Resources
Last month we shared Resources for Student Loan Borrowers, a centralized hub with information, tools, and advice for those impacted by the coronavirus. We are continuously updating the site as we learn more – visit the recently revised page with the latest news, answers to frequently asked questions, and helpful links from our partners.
Our main COVID-19 site is regularly refreshed with TICAS’ work related to the coronavirus and college affordability, includes current fact sheets, statements, and highlights our coalition work like the joint letter we sent with ACE and NASFAA last month that urged Congress to act swiftly to provide immediate repayment relief to federal student loan borrowers amid the COVID-19 crisis.
Join the Conversation
Students and borrowers have been hit hard during this pandemic. From moving back home to losing jobs or worse, COVID-19 has impacted Americans in ways never imagined, and we want to hear from you.
Do you have a question about how COVID-19 may impact your financial aid or student loans? Want to share your experience with college affordability during this crisis? Submit a question or story – we may answer your question at an upcoming event or share your story with interested policymakers and reporters (with your permission)!
TICAS Voices Call for Additional Aid and Oversight, Support for Students and Colleges Post-Pandemic
- Last week, executive vice president Debbie Cochrane wrote about important actions the California Legislature should take to protect financial aid and better support students during the coronavirus crisis, including undocumented students left out of new federal resources, for EdSource.
- As colleges and universities face unprecedented challenges, president James Kvaal recommends five steps for Congress to help colleges weather the recession and boost recovery in a piece for Forbes.
- And a joint op-ed from Debbie Cochrane and Student Defense’s Aaron Ament warns against the rise of predatory practices as more colleges move online, calling for additional oversight in the Hechinger Report.
Navigating Student Loans During the COVID-19 Pandemic
Earlier this month, TICAS associate vice president Jessica Thompson and external affairs and policy analyst Michele Streeter joined U.S. Representative Suzanne Bonamici for a virtual info session explaining the CARES Act and answering questions from constituents about tools and resources available to students and borrowers during this challenging time.
For Student Borrowers, One Bright Spot During COVID-19
Leading our new Michigan work, TICAS senior advisor Catherine Brown shared information and resources for students and borrowers impacted by COVID-19 in the state.
TICAS in the News
- F.A.Q. on Stimulus Checks, Unemployment and the Coronavirus Plan | Tara Siegel Bernard and Ron Lieber, The New York Times
If you’ve borrowed money from the federal government — a so-called direct loan — in the past 10 years, you’re definitely eligible. According to the Institute for College Access & Success, 90 percent of loans (in dollar terms) will be eligible. Older Federal Family Educational Loans (F.F.E.L.) that the U.S. Department of Education does not own are not eligible, nor are Perkins loans that your school owns (ask your financial aid office if you’re not sure), loans from state agencies, or loans from private lenders like Discover, Sallie Mae and Wells Fargo. - Four parts of the coronavirus stimulus act that have flown under the radar | Kathleen Pender, The San Francisco Chronicle
The problem is, “most people don’t know what kind of loan they have,” Michele Streeter, policy analyst at the Institute for College Access & Success said. Those who are not covered under the CARES Act can still ask their loan servicer for a hardship forbearance, but they may have trouble getting through because many services have reduced customer service staffing and call hours because of the coronavirus. - While other colleges struggle, for-profits hope for revival | Collin Binkley, Associated Press
“A perfect storm is brewing for a rip-off revival to parallel the predatory for-profit college boom of the 2000s. And the most vulnerable students will inevitably pay the heaviest price,” said the letter, signed by leaders of the National Student Legal Defense Network and the Institute for College Access & Success. - Hope for student borrowers: Settlement requires administration move faster | Stacy Teicher Khadaroo, Christian Science Monitor
“Getting rid of some of that interest and stopping the collections for this set of borrowers is really important; a lot of these people are in default,” says Beth Stein, a senior adviser at The Institute for College Access & Success (TICAS).
