Yingling Applauds New Relief Options for Student Loan Borrowers

ROUND LAKE BEACH, Ill. – With the COVID-19 pandemic disrupting economic activities, state Rep. Sam Yingling, D-Grayslake, is highlighting new relief options for those with student loan debt. 

“Whether it’s working families, small businesses, or those with student loan debt, providing relief to as many people as possible is a main priority during this pandemic,” Yingling said. “With the economic hardships many are facing, having to pay off debt is incredibly difficult, which is why I support this new initiative”

Illinoisans with commercially-owned Federal Family Education Program Loans or privately held student loans may be eligible for relief including a minimum 90 days of forbearance, waiving of late payment fees, and ensuring no negative credit score reporting for borrowers, among other relief options. Borrowers can visit the Department of Education’s National Student Loan Data System (NSLDS) at nslds.ed.gov or call the Department of Education’s Federal Student Aid Information Center at 1-800-433-3243 to find the types of loans they have to determine their eligibility for this initiative.

“I highly encourage those who are struggling to pay off their student loans to take a moment and determine whether or not pursuing these new relief options would be beneficial,” said Yingling.