State treasury gives student loan assistance amid outbreak

Coronavirus

LANSING, Mich. (WOOD) — Michiganders who have student loans through the state will be receiving assistance during the COVID-19 pandemic.

The Michigan Department of Treasury announced Tuesday collections on delinquent Federal Family Education Loan Program student loans made by a financial institution and serviced by the Michigan Guaranty Agency will be suspended until Sept. 30.

People who are currently in repayment agreements will not be penalized if a payment is missed through Sept. 30.

The state has stopped all wage garnishments and offsets to pay outstanding FFELP student loans serviced by the Michigan Guaranty Agency.

If you have a FFELP loan serviced by the Michigan Guaranty Agency and are having trouble paying, you’re asked to call 1.800.642.5626.

More information about state student finance programs can be found online.

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