NYS to Extend Student Loan Relief for Sandy Victims

School & Education, Local News, Business & Finance, Press Releases

The New York State Higher Education Services Corporation announced earlier this week that student loan repayment relief for Hurricane Sandy-impacted borrowers would be extended through ...

The New York State Higher Education Services Corporation announced earlier this week that student loan repayment relief for Hurricane Sandy-impacted borrowers would be extended through June 30, 2013.

On November 9, 2012, Gov. Andrew M. Cuomo directed HESC to grant temporary student loan relief to New Yorkers who were affected by Hurricane Sandy. If requested, residents in Bronx, Kings, Nassau, New York, Queens, Richmond, Rockland, Suffolk and Westchester counties could suspend their student loan payments for a 90-day period from October 27th, 2012 to January 25th, 2013. Members of the military who were called to assist in the aftermath of Hurricane Sandy were also eligible.

“The State recognizes that many New Yorkers who were impacted by Sandy are still struggling, and continue to need relief and support,” said Elsa Magee, acting president of HESC.

“We thank the U.S. Department of Education for approving our request so that we can continue to provide relief to student loan borrowers who live or work in the affected areas. This extension will give impacted families a meaningful period during which they can focus on rebuilding and restarting their lives,” she continued.

Additionally, federal student loan servicers have been directed by the U.S. Dept. of Education to extend the 90-day grace period through June 30 to existing and newly-identified borrowers who have been adversely impacted by the storm.

The extension also requires that delinquency or default notifications made by HESC to credit reporting agencies be suspended or reversed, referrals for administrative wage garnishment be suspended and collections calls to federal student loan borrowers in New York, New Jersey and Connecticut who are delinquent in their federal student loan payments be suspended.

Borrowers should contact HESC to request a temporary suspension by calling 1-866-991-HESC (4372) or by emailing Dept736@hesc.ny.gov.

Add your comments to this article below or on our Long Island Living Discussion Forum.

Photos

5 comments

Robert Robbins Feb 15th, 2013 06:10 PM

This is a great step towards helping those students, and families, who have had to use student loans to pay for college. 
 
As someone who is rebuilding from Sandy, I know how hard it is to not only rebuild a home, but also try to keep everything else up to date. Good job Department of Education.

Ann Feb 15th, 2013 07:13 PM

This is great news! Now perhaps we can get a little relief for my daughter's college loans as we still have clean up and bills from contractors! 

Joseph Buford Feb 15th, 2013 07:15 PM

I know that there are many college students whose families have been affected by Hurricane Sandy. I know that it is tough to pay back all of those loans that they had to use to pay for college. 
 
This move by the Department of Education is well done and should be applauded. They could go another step and perhaps give families a few months without payments. 

Velia Brann Feb 15th, 2013 07:39 PM

This is the type of aid that does not cost anyone anything, but is so practical. The Department of Education is doing a great job and this shows that they are actually thinking more than the Congress is. 

Charlie Feb 15th, 2013 07:41 PM

My daughter has been worrying about us paying for her student loans. To be truthful, we have been too. With Hurricane Sandy making every penny really count we were thinking about selling off some of our things for some extra money to go towards bills. 
 
But, relief is exactly what we needed. By helping us put off our payments we can get caught up, repairs completed, and still breathe. 

Add your comment...


 

Join Our Weekly Newsletter

Sign up for a free weekly newsletter covering things to do, hottest local headlines, and everything Long Island! Read more here or enter your email to signup.

   
     Newsletter Archive
Advertisement
Advertise With Us
 
Open Feedback Dialog