The state of student
loans during the
COVID-19 pandemic
$1.7 trillion
The current amount of
student debt held by
45 million borrowers
87%
of borrowers had
their federal loans
in administrative
forbearance as
of September 2020
82%
of student loans may
qualify for CARES Act
benefits
Get help with student loan
debt during the pandemic
Federally owned loans
Currently, no interest is accruing and monthly
payments have been suspended for loans in repayment
through September 2021. No action is required from
borrowers to have the suspension applied.
Non-federally owned loans
Borrowers must contact their loan servicer to discuss
options. The CARES Act does not apply to loans made
by banks, credit unions, states or non-profits. Lenders
may provide benefits but they are not required to.
Private loans
Borrowers must contact their loan servicer to discuss
options. The CARES Act does not apply to loans made
by banks, credit unions, states or non-profits. Lenders
may provide benefits but they are not required to.
Submit a complaint
Having problems? Submit a complaint to the CFPB.
cfpb.gov/complaint
Unsure of what type of
loans you have?
Visit cfpb.gov/askcfpb/613 to learn more.
Source: U.S. Department of Education data as of
September 2020. This number reflects federal student
loans post-grace and pre-default.
Consumer Financial
Protection Bureau
Learn more at
cfpb.gov
