The Center for Financial Security (CFS), in collaboration with the Wisconsin Coalition on Student Loan Debt (WCSD) and Ascendium Education Solutions, Inc., hosted a webinar entitled “The COVID19 Crisis and Student Loans: A Webinar Event for Borrowers and Practitioners” on June 9th. The webinar increased awareness about how COVID19 has impacted student loan borrowers and on the various types of COVID19-related relief available.
The COVID19 pandemic has created a whole new set of challenges for student loan borrowers with the significant disruption it has caused to people’s work, school, health, and families.
Special COVID19-related relief—which includes the temporary suspension of payments and collections—exists for many borrowers. But many borrowers do not know about such relief, how it benefits them, or where they can turn for more information. Borrowers who lack information may struggle to repay their loans amidst the host of COVID19 disruptions they are facing, and are particularly vulnerable targets for fraudulent schemes like those aimed at getting borrowers to pay for relief given automatically. Presenters on the webinar provided:
- Real-world stories about how COVID19 impacts borrowers and the difficulties borrowers experience in their efforts to understand COVID19-related relief;
- Information about fraudulent student loan debt relief companies—including how to identify them and where to report suspected fraud; and
- An overview of COVID19-related relief and information about where borrowers can go to learn more.