Oakland University issued the following announcement on Dec. 9.
Many Oakland University students and alumni have had their federal student loan payments suspended since March 2020 due to the COVID-19 pandemic.
Now, the federal government has announced that its student loan 0% interest period and payment suspension program is scheduled to end on January 31, 2022.
That is why it is important for anyone with student loans to learn what steps they will need to take after the start of the new year.
“Currently enrolled student loan borrowers shouldn't be going into repayment until six months after they drop to less than half-time status, graduate, stop-out, or withdraw,” said Nancy A. Fetzer, interim director of Financial Aid. “However, it is important that both current OU students and alumni with student loans start seeking out their personalized plan information and prepare for the restart of their loan repayments.”
Original source can be found here.
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