Feds move to provide relief for those who owe student loans

A spokesman for the Nevada treasurer says federal education officials have announced several decisions to help students with loans experiencing problems because of the coronavirus.

First, they announced that interest rates on all federal student loans will be set at 0 percent for at least 60 days. In addition students have the option to temporarily suspend loan payments for at least two months. Those students should contact their loan servicer by phone or online.

Finally, payments will be automatically suspended for borrowers who are more than 31 days delinquent.

Treasurer Zach Conine said the measures will help minimize the impact of the virus pandemic on thousands of Nevadans who have student loan debt. He said altogether, some 324,000 Nevadans owe roughly $10.7 billion in federal student loan debt.

Conine said his office has established a Student Loan Ombudsman to help those students navigate their loans. They can contact the ombudsman at SLO@nevadatreasurer.gov