BOSTON – The Massachusetts Division of Banks has joined an initiative to aid student loan borrowers during the COVID-19 pandemic.
The multi-state initiative aims to secure options for payment relief with 15 student loan services. 182,000 Massachusetts borrowers will benefit from the initiative, according to the state.
Options for relief include a minimum of 90 days of forbearance, a waiver of late payment fees, and a cease of debt collection lawsuits for 90 days.
The new actions come after the federal CARES Act also provided help to student loan borrowers.
For more information, visit the administration’s website by clicking here.
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