Posted Date:November 1, 2013
|Author:||Brenda Wensil, Chief Customer Experience Officer, Federal Student Aid|
Subject: Department Launches Income-Driven Federal Student Loan Repayment Campaign
Earlier this year, President Obama called for the Department to do more to ensure that all federal student loan borrowers are aware of affordable repayment options so that student loan debt does not stand in the way of life’s opportunities.
Beginning in November, the Department of Education will contact borrowers to ensure they have the information they need to choose the right repayment option for them.
The campaign will target borrowers whose grace periods will end soon, borrowers who have fallen behind on their student loan payments, borrowers with higher-than-average debts, and borrowers in deferment or forbearance because of financial hardship or unemployment. The e-mails, which will be distributed through mid-December, will reach approximately 3.5 million federal student loan borrowers.
Borrowers will be prompted to access resources designed to educate them on repayment options, apply for an income-driven repayment plan, or contact their federal student loan servicer for additional information.
A sample e-mail—the one for borrowers whose grace periods will end soon— is attached to this announcement.