COVID-19 Student Loan Relief for Campus Based Loans
Relief | Institutional (includes Dream Loans) | Perkins | HRSA |
---|---|---|---|
Interest Accrual | Suspend interest accrual on all institutional loans from April 15, 2020 through June 30, 2023. | Suspend interest accrual on all Perkins loans from April 15, 2020 through January 31, 2021. | Suspend interest accrual on HPSL, PCL, LDS, NSL, and NFLP from March 13, 2020 through January 31, 2022. |
Late Fees | Late fee assessment stopped from April 15, 2020 through June 30, 2023. Late fees already assessed remain on the account. | Late fee assessment stopped from April 15, 2020 through January 31, 2021. Late fees already assessed remain on the account. | Late fee assessment stopped from April 15, 2020 through January 31, 2022. Late fees already assessed remain on the account. |
Administrative Forbearance |
Administrative Forbearance from April 15, 2020 through June 30, 2023. Borrowers who are current with payments must request administrative forbearance. Borrowers who become or are more than 31 days delinquent or in default will have the administrative forbearance applied automatically. |
Administrative Forbearance from April 15, 2020 through January 31, 2021. Borrowers who are current with payments must request administrative forbearance. Borrowers who become or are more than 31 days delinquent will have the administrative forbearance applied automatically. |
Administrative Forbearance from March 13, 2020 through January 31, 2022. All Borrowers must request administrative forbearance. Borrowers who become or are more than 31 days delinquent will have the administrative forbearance applied automatically. Administrative forbearance applies to defaulted loans (please refer to HRSA FAQs). |
Hardship Deferment and/or Forbearance (Borrower must request) | Any Deferment or Forbearance available under the Loan Program Guidelines. |
Economic Hardship Deferment: Defers both principal and interest and has a post-deferment grace period of 6 months. Unemployment Deferment: Defers both principal and interest and has a post-deferment grace period of 6 months. Forbearance: Temporarily postpones payments; interest continues to accrue and is due once regular payments resume. All options listed above are limited to 36 months of eligibility. |
Forbearance: If a borrower suffers a drastic change in his or her financial situation which makes it impossible to repay the HPSL according to schedule. Events that can have such an effect on an individual's financial circumstances include prolonged illness, unemployment, or a natural disaster (e.g., flood, fire). Requires borrower request, documentation, and minimum payment Loans already in deferment/forbearance stop accruing interest starting March 13, 2020 through September 30, 2021. Any outstanding accrued interest prior to March 13, 2020 is capitalized (please refer to HRSA FAQs). |
Consolidation | N/A |
Borrowers who consolidate will be eligible for the CARES Act relief benefits. When the borrower consolidates, the statutory rate will be reported and used as part of the weighted average interest rate of the consolidation loan. However once the loan is booked, the TIVA will automatically put the borrower in a forbearance and 0% interest rate until September 30, 2021. Please note: Borrowers who plan to utilize the Federal Perkins cancellation benefits should not consolidate their loan. |
Borrowers who consolidate will be eligible for the CARES Act relief benefits. When the borrower consolidates, the statutory rate will be reported and used as part of the weighted average interest rate of the consolidation loan. However once the loan is booked, the TIVA will automatically put the borrower in a forbearance and 0% interest rate until January 31, 2022. |
Tax Offsets |
UC has discontinued tax offsets through at least June 30, 2023. |
UC has discontinued tax offsets through at least July 31, 2022. |
UC has discontinued tax offsets through at least July 31, 2022. |
Contact and Resources
Cal Student Central
Questions
If you have questions about your student billing account, please contact Cal Student Central.
Phone
510 664 9181
Address
120 Sproul Hall, Berkeley, CA 94720
Hours
Monday through Friday
9:00 am to Noon, 1 pm to 4:00 pm
Open a case through Cal Student Central