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.