FRANKFORT, KY — Borrowers who were able to pause their federal student loan repayment will see their repayments postponed.
According to the Kentucky Higher Education Assistance Authority (KHEAA) the repayments will be postponed until May 1.
The federal government had intended to have borrowers resume payments in February but decided to wait until May because of the spread of the omicron coronavirus variant.
KHEAA advises borrowers to make sure their loan servicer has their current contact information. If you don’t know who your loan servicer is, you can find it by logging into your account at studentaid.gov. The information will be under the “My Loan Servicers” section.
Your loan servicer can also help if you expect to have trouble restarting repayment of your loans. In that case, contact your loan servicer as soon as possible. They can help you find the repayment plan that best fits your finances and could reduce your monthly payment.
If the Kentucky Higher Education Student Loan Corporation (KHESLC) is your loan servicer, call 800-693-8220 to discuss your options.
KHEAA is the state agency that administers Kentucky’s student financial aid programs, including the Kentucky Educational Excellence Scholarship (KEES). Its sister agency, KHESLC, offers low-cost Advantage Loans to help students and parents pay for college or refinance student loans. For more information about Advantage Loans, visit advantageeducationloan.com.
Many of KHEAA’s student aid programs are funded by Kentucky Lottery revenue.
For more information about Kentucky scholarships and grants, visit kheaa.com; write KHEAA, P.O. Box 798, Frankfort, KY 40602; or call 800-928-8926.