The U.S. Department of Education announced the final extension of student loan relief through Jan. 31, 2022.

Here’s the latest update, what it means and several additional resources:

What This Means

• Eligible federal student loans (not private loans) will continue to incur 0% interest and will not require monthly payments through Jan. 31, 2022
• These forgiven payments will continue to count toward the number of payments required for the Public Service Loan Forgiveness (PSLF) program
• Collection on defaulted loans will still be on hold

Here’s why it’s so important to get student loans in order now before the relief period ends.

FedLoan Servicing update - FedLoan Servicing, one of the organizations that supports the U.S. Department of Education's ability to service student loans, is not renewing its contract for servicing federal student loans. It's still being determined who will be servicing federal student loans and running the PSLF program, but here are important actions you can take so you’re prepared.

Horace Mann, a TASBO Strategic Partner, will be presenting a webinar on Government Student Loan Forbearance Program on October 26 at 2 PM. Click here to learn more and register.

The information provided here is for general informational purposes only and should not be considered a recommendation. Horace Mann’s Student Loan Solutions program includes services provided by an independent third party, Tuition.io. Horace Mann is an independent company not affiliated with the Department of Education or the federal government. Horace Mann does not negotiate, adjust or settle debts. No assistance provided by Horace Mann constitutes official action for purposes of student loan forgiveness programs or guaranteed results. Horace Mann’s Student Loan Solutions program terms are subject to change.

Horace Mann Service Corporation and certain of its affiliates (Horace Mann) enter into agreements with educational associations where Horace Mann pays the association to provide services aimed at familiarizing association members with the Horace Mann brand, products or services. For more information, email your inquiry to association.relations@horacemann.com.