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Federal student loan forbearance by Biden technicality

Started by Denise, February 19, 2021, 08:01:29 am

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I currently have federal student loans being serviced by Navient. The Federal Student Aid/National Student Loan Database have also confirmed that my loans are federal and not private loans. Today, I contacted Navient to confirm that my scheduled montly payments have been suspended until September 30, 2021 at 0% interest per Biden's recent forbearance extension for federal student loans. According to Navient, the extension does not apply to all federal student loans. Rather, only federal student loans that were awarded by the Department of Education qualify for the extension because Biden's jurisdiction on federal student loans is limited to those given by the Department of Education.

I have not read this caveat anywhere and would like to know if anyone is aware of it or had a similar experience with Navient or other loan servicers?


Only Direct Loans qualify, as well as certain FFEL and Perkins loans that were bought back by the Department of Education during the 2007-2009 financial crisis (this is a very, very small amount of loans).

As such, the 8 million or so borrowers that have FFEL and Perkins loans are left out of all CARES ACt programs.

Sounds like you have an FFEL loan? Basically, 99% of all loans prior to 2009 were FFEL.