COVID-19 Student Loan Relief
Dealing with the COVID-19 pandemic can put stress on you—and your finances. However, with the recent passage of the Coronavirus Aid, Relief, and Economic Security (CARES) Act and other government relief efforts, your student loan may qualify for COVID-19 hardship assistance.
If you have a federal student loan:
- All payments and interest for federal student loans held by the government are suspended through September 30, 2020.
- Contact your student loan servicer to discuss eligibility and options.
- You can find contact information for federal student loan servicers here.
If you have a private student loan:
- Interest is not being waived.
- However, payments may be able to be paused; contact your loan servicer to learn about your options.
- Consider refinancing your student loans; you may be able to lower your monthly payment.
You can access this easy-to-use tool, created by our partners at CommonBond, to determine if you qualify for relief.
Contact your servicer to see what kind of student loan you have and what options best suit your needs.
Helping you build a stronger tomorrow.
At Fifth Third, we hope this information can help you avoid any added financial stress at this time—so you can keep looking forward to achieving your goals.
As always, thank you for choosing Fifth Third.