Important Update for Students: President Trump Extends Student Loan Relief

Important Update for Students: President Trump Extends Student Loan Relief

Freedom Alliance works with hundreds of college students each year, providing them scholarships to make their education more affordable. Each scholarship honors a student’s parent who sacrificed life or limb for our country in military service. 

To help students impacted by the COVID-19 pandemic, President Trump signed the Coronavirus Aid, Relief & Economic Security (CARES) Act on March 27th. The Education Department’s resource page can be viewed here. The CARES Act provides many relief provisions, but two that are most likely to impact Freedom Alliance scholarship recipients are: 

Suspension of Student Loan Payments: For certain student loans, payments are suspended for six months, from March 13, 2020 thru September 30, 2020. Specifically, this applies to Direct Loan program loans and for Federal Family Education Loans (FFEL) held by the Department of Education and which are not in default. 

No Interest on Student Loans: Similarly, from March 13, 2020 thru September 30, 2020, interest is waived on loans held by the Department of Education which are not in default. 

IMPORTANT UPDATE: On August 8, 2020 President Trump signed an Executive Order which extends the relief period for these two provisions thru December 31, 2020.

During this crisis, as we always do, Freedom Alliance is caring for the needs of our scholarship students, ensuring that their parent’s sacrifice will never be forgotten by a grateful nation.  

Please be sure to work with your parents and consult your school’s financial aid office. In addition, keep Freedom Alliance’s Scholarship Department updated on your enrollment status. 

A Note to Our Benefactors:

Thank you for your continued generosity toward our efforts. With your help, we are ensuring that the sacrifice of heroic Americans is honored through their children. 

We are grateful for your support. Thank you!

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