Name: Illinois Expands Payment Relief for Student Loan Borrowers
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Illinois Expands Payment Relief for Student Loan Borrowers

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Toggle main menu visibilityIllinois residents who are struggling to make student loan payments could soon get some relief.On Tuesday, Gov. J.B. Pritzker said the state has secured relief options for student loan borrowers who weren’t previously covered by the federal CARES Act, which provides relief to those with federal loans, but not to those with private loans or federal loans not owned by the federal government.The state has secured relief options with 20 private loan servicers, which could provide relief to more than 138,000 residents, according to Pritzker’s office.“At this unprecedented time of financial hardship, it was essential to find a way to provide relief to all student loan borrowers who are struggling financially due to the COVID-19 pandemic,” said Deborah Hagan, secretary of the Illinois Department of Financial and Professional Regulation, in a statement.Illinois residents who have commercially owned Federal Family Education Program Loans or privately held student loans who are struggling to make payments due to the COVID-19 pandemic will be eligible under the new initiative.Borrowers in need of assistance should contact their student loan servicer to identify the options that are appropriate to their circumstances. According to the governor’s office, relief options include:— Providing a minimum of 90 days of forbearance— Waiving late payment fees— Ensuring that no borrower is subject to negative credit reporting— Ceasing debt collection lawsuits for 90 days— Working with borrower to enroll them in other borrower assistance programs, such as income based repayment.If regulated student loan servicers are limited in their ability to take such actions due to investor restrictions or contractual obligations, servicers should proactively work with loan holders whenever possible to relax those restrictions or obligations, according to the governor’s office.If a borrower is experiencing trouble with their student loan servicer, they should file a complaint with the&nbsp;&nbsp;(217-785-2900), contact the Attorney General’s Student Loan Helpline (800-455-2456), file a complaint with the&nbsp;, or file a complaint with the&nbsp;.Borrowers can&nbsp;&nbsp;to determine the types of federal loans they have and who their servicers are, or call the Department of Education’s Federal Student Aid Information Center at&nbsp;800-433-3243&nbsp;or&nbsp;800-730-8913&nbsp;(TDD). Borrowers with private student loans can check the contact information on their monthly billing statements.The Illinois Department of Public Health reported Tuesday an additional 1,551 cases of COVID-19 and 119 deaths, bringing the totals to 33,059 and 1,468, respectively. Across the state, 96 of Illinois’ 102 counties have been impacted, according to IDPH.During his daily press briefing Tuesday, Pritzker was asked about plans for his stay-at-home order, which is set to expire April 30. The governor said he’s “working on making changes” to the order, and that residents should not expect mass openings of businesses on May 1.While there will be changes to the stay-at-home order, Pritzker says it is working. “To remove it, as I see some other governors may want to do, to remove it entirely is to simply open everything back up to infection,” he said.&nbsp;&nbsp;beyond April 30, which is “no longer a viable date” for it to be lifted. “I would expect an extension of the stay at home order … through sometime in May,” Lightfoot said.The order could also be extended into June, Lightfoot said. “We are not even close to being out of the woods,” she said.Pritzker acknowledged that the state is “weeks away” from seeing its peak in the number of cases. “In order for us to truly open things up we need (contact) tracing, we need testing and we need a treatment available, and we need widespread availability of PPE,” Pritzker said. “And we don’t have those things available today.”&nbsp;Contact Kristen Thometz:&nbsp;&nbsp;|&nbsp;(773) 509-5452&nbsp;|&nbsp;&nbsp;Coronavirus Prevention Tips and ResourcesOfficials advise taking preventive measures to slow the spread of the virus, including:&nbsp;—Washing your hands for at least 20 seconds with soap and water—Using hand sanitizer with at least 60% alcohol—Sneezing or coughing into a tissue and then disposing of the tissue—Limiting contact with people regardless of how you feel—Staying home when you are sickSymptoms of COVID-19 include, but are not limited to:—New onset of fever, cough, shortness of breath—Congestion in the nasal sinuses or lungs—Sore throat, body aches or unusual fatigueIf you think you have COVID-19:Call you doctor before showing up at their office. If you have a medical emergency and need to call 911, tell the operator that you think you have COVID-19. If possible, wear a mask before medical help arrives or presenting at a doctor’s office. .Additional resources:————IDPH COVID-19 hotline: 800-889-3931—IPDH COVID-19——City of Chicago COVID-19 hotline: 312-746-4835—City of Chicago COVID-19Tags:&nbsp;&nbsp;SMTWTFS&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;24 &nbsp;25 &nbsp;26 &nbsp;27 &nbsp;28 &nbsp;29 &nbsp;30 &nbsp;&nbsp;&nbsp;

Toggle main menu visibilityIllinois residents who are struggling to make student loan payments could soon get some relief.On Tuesday, Gov. J.B. Pritzker said the state has secured relief options for student loan borrowers who weren’t previously covered by the federal CARES Act, which provides relief to those with federal loans, but not to those with private loans or federal loans not owned by the federal government.The state has secured relief options with 20 private loan servicers, which could provide relief to more than 138,000 residents, according to Pritzker’s office.“At this...

Illinois Expands Payment Relief for Student Loan Borrowers

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