Student Loan Relief

Working together, even when apart

Alverno is here for you during this challenging time. Whether you're a current student or a prospective one, a faculty or a staff member, a parent or an alumna, we're all navigating this together. And we're doing it the best way we know how — in #AlvernoStrong fashion. 

Latest news:

 

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Students are strongly discouraged from coming to campus. This will help to minimize the potential for transmission of the COVID-19 virus.

 

The federal government is providing student loan relief to borrowers during the COVID-19
national emergency.

 

What does this mean?

  • All borrowers with federally held student loans will automatically have their interest rates set to 0% for a period of at least 60 days.
  • Borrowers also have the option to suspend their payments for at least two months to allow them greater flexibility during the national emergency.
  • This will allow borrowers to temporarily stop their payments without worrying about accruing interest.

How do I apply for this relief?

  • Borrowers should contact their loan servicer online or by phone. Any borrower who has experienced a change in income can contact their loan servicer to discuss lowering their monthly payment.

Should I continue making payments if I’m able?

  • Some borrowers may want to continue making payments, like those seeking Public Service Loan Forgiveness (PSLF) or those enrolled in a repayment plan with a manageable monthly payment.
  • For borrowers continuing to make payments, the full amount of their payment will be applied to the principal amount of their loan once all interest accrued prior to the president's March 13 announcement is paid.
  • The Department will work closely with Congress to ensure all student borrowers, including those in income driven repayment plans, receive needed support during this emergency.

For more information, visit studentaid.gov/coronavirus and ed.gov/coronavirus for more infomration. 

 

The CDC recommends the following measures to help prevent the spread of all respiratory viruses:

 

  • Avoid close contact with those who are ill
  • Avoid touching your face
  • Stay home when you are sick
  • Cover your cough or sneeze with a tissue, then throw the tissue into the garbage
  • Clean and disinfect objects and surfaces using household cleaning spray or wipes
  • Wash your hands with soap and water for at least 20 seconds, especially after going to the bathroom; before eating; and after blowing your nose, coughing or sneezing

Please visit the CDC website for the most up-to-date information on COVID-19.


A note to prospective students:
The Alverno Admissions and Financial Aid Teams are here for you. Although our on-campus tours, visits and events are postponed, we still want to connect. Visit alverno.edu/discover to start or continue your journey to becoming #AlvernoStrong.