Coronavirus (COVID-19) Relief Center
Coronavirus (COVID-19) Relief Center
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Massachusetts
These resources – like the public health crisis itself – are constantly evolving and are only current as to the date of publication. This page was last updated on September 14, 2020.
For more up-to-date information on the relief programs available in Massachusetts, we recommend that you visit the state's COVID-19 Updates and Information website, COVID-19 State of Emergency resources or MassTrac's list of bills related to the COVID-19 pandemic.
Description of Program and Relief
Relief for Borrowers with Privately-Held Student Loans That Are Not Covered by the Federal CARES Act
Description of Program and Relief
Massachusetts borrowers with privately-held student loans who have been impacted by the COVID-19 pandemic and who are not covered by the federal CARES Act may be eligible for some relief options through a recent multi-state initiative between private student loan servicers and the Division of Banks.
Massachusetts borrowers can get various forms of loan relief, including providing at least a 90-day forbearance, waiving late-payment fees, ensuring that borrowers are not subject to negative credit reporting, and working with borrowers to enroll them in other borrower-assistance programs, such as income-based repayment programs.
Government or Lead Agency
Division of Banks
Dates Available
Effective immediately
Eligibility Requirements/Restrictions
Borrowers with commercially-owned Federal Family Education Loan Programs (FFELP) or certain privately held student loans may be eligible for relief.
Application Deadlines (If Applicable)
Borrowers need call their loan servicer in order to secure relief.
Contact for More Information
See below.
List of Additional Information
If a borrower is unsure of the identity of his or her loan servicer, the Federal Student Aid Information Center may be able to help and may be reached at 1-800-433-3243.
© 2021 Paul, Weiss, Rifkind, Wharton & Garrison LLP. This does not constitute legal advice and does not create an attorney-client relationship. In some jurisdictions, this publication may be considered attorney advertising. Past representations are no guarantee of future outcomes.