As the new coronavirus continues to spread and impact colleges and universities, as well as students and parents, a number of our business partners have begun offering certain services for free to help ease the burden. If your organization is providing a service free of charge to schools and/or students and families during the national emergency that you would like to be included in this resource, please send a link to the announcement or press release to our news team.
The following is a list of services being provided free of charge during the national emergency.
Expanded Student Loan Repayment Webinars, One-on-One Coaching, Law Student Relief Fund
To further support schools making the transition to remote instruction amid the coronavirus, the AccessLex Center for Education and Financial Capability® has considerably expanded its upcoming webinar schedule, and has expanded remote one-on-one coaching availability. Students can sign up for free remote coaching via AccessConnex. AccessLex has also donated $5 million to create a Law Student Emergency Relief Fund, through which every nonprofit and state-affiliated ABA-approved law school in the nation will receive $25,000 for their designated relief fund.
SponsoredScholar, Emergency Funding Software
From now until August 31, SponsoredScholar, CampusLogic's emergency funding software, will be free to higher education institutions, on a first-come, first-served basis. There is no obligation for institutions to continue after August 31, and 100% of the annual subscription and implementation fees will be waived for institutions that sign up by April 30, 2020.
Disaster Forbearance Program
To help customers who are unable to make their monthly payments as a result of COVID-19, College Ave Student Loans is offering a Disaster Forbearance program that temporarily suspends required payments on College Ave student loan(s) for three consecutive months.
COVID-19 Frequently Asked Questions
Given the uncertainty presented by the COVID-19 outbreak, we want to assure our schools and borrowers that Discover remains committed to providing the best service possible. We have support in place for qualified Discover student loan customers who experience hardship as a result of the outbreak, including a Disaster Relief Program. Borrowers can contact our customer service team 24/7 at 1-800-STUDENT (TTY/TDD 1-800-223-5614) for more information about how we can help.
Earnest COVID-19 Response
A month ago, few would have imagined that today we would find ourselves in the middle of a global health crisis. We’re committed to keeping clients informed about what is available to help them manage their student loans in this ever-changing environment. If COVID-19 has created an immediate financial hardship for a client, Earnest is offering up to three months of postponed payments, through a disaster forbearance, to qualified clients who request it.
Coronavirus Resources for Students
At this time of uncertainty Fastweb has created student-facing informational resources for students at all levels. These relevant articles are brought together in its website's new section, Coronavirus Resources for Students. Fastweb will continue to update this information for students, as well as provide all of our tools to help them navigate paying for school.
Financial Literacy Month Resources
Inceptia had already put together a number of free student resources for Financial Literacy Month including webinars, videos, and its annual Great Advice for Grads. These resources, available to all, may be of value to students as they face questions about uncertain economic times and personal finances. Inceptia will also students cut through the noise to understand their student loan questions and the CARES Act – and it’s free. Call 844.358.7979 or chat live: Inceptia.org/assistance.
Free COVID-19 AI Chatbot for Colleges and Universities
Amid the COVID-19 pandemic, Ocelot is offering schools a free Ocelot COVID-19 Bot to ensure communication continues uninterrupted. Additional resources are also available on Ocelot's COVID-19 Status page.
Automate Your CARES Act Emergency Grant Application
ProEducation Solutions (ProEd) has developed a way to streamline the application process for students and provide schools with pertinent information to administer emergency funds efficiently and remotely using eSigned forms and our new data extract.
Sallie Mae Coronavirus Response
If you are experiencing difficulties during this time, please contact us. We have assistance options available to help you postpone payments and keep your account in good standing during this unique health emergency. Sallie Mae customer service agents are available online via chat and through our Sallie Mae app, Monday through Friday, from 9 a.m. to 6 p.m. ET. We have updated the features available through chat so that we can connect you to the assistance you need quickly and easily. If you are unable to reach us online, you can call us at 800-4-SALLIE (800-472-5543). Additional information is available at www.salliemae.com/coronavirus. For education-related articles and information visitwww.salliemae.com/blog.
Special Considerations Related to COVID-19
During the national emergency, SoFi may be able to offer forbearance for active student loan members who are financially impacted by COVID-19. In addition to this, SoFi is offering a number of other services for its members, including the opportunity to speak with a financial planners at no cost; the opportunity to speak with a career coach and access tools to help with career development; and developing slate of virtual events.
Emergency Aid Toolkit
Given the CARES Act has been signed into law, higher education campuses must soon distribute emergency aid funds to students. How these programs are created, administered, and communicated to students is critically important. In response, Trellis Company has created an emergency aid toolkit to help higher education institutions through the entire process.
Publication Date: 4/30/2020