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New Member
posted Mar 29, 2020 8:52:19 AM

Is it true that offsets are being suspended? I’m in the process of having my student loan rehabilitated and will be making my 5th payment last week which will stop offsets. But I have read that t

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1 Replies
Expert Alumni
Mar 29, 2020 9:11:22 AM

Regarding offsets, if there were any changes, they would likely be temporary.

I recommend contacting The Treasury Offset Program and Debt Management Services, which handle student loan offsets. For Federal Student Loan matters, Debt Management Services can be reached at 1-800-621-3115 Monday-Friday 8 am - 10 pm EST, Saturday 8 am - 7 pm EST.

 

Student loans are not forgiven, but have temporary student debt relief.

Secretary DeVos has directed FSA to stop wage garnishment for at least 60 days from March 13, 2020. See this article from the U.S. Department of Education's press release March 25, 2020.

 

For Coronavirus related details, please see the following resources:

  • TurboTax COVID-19 Site 

  • How are my taxes affected by COVID-19? 

  • What do I need to know about the coronavirus stimulus package?

  • IRS: Coronavirus Tax Relief

[Edited 3/30/2020 | 3:05 PM PST]

@akennedy4401