PITTSBURGH — Pennsylvania has partnered with a company to provide free student loan help to all residents during the COVID-19 pandemic.
According to Attorney General Josh Shapiro’s office, Summer can help people simplify and save on their student debt. The group can help borrowers find, compare, and enroll in loan assistance and forgiveness programs. Residents can access Summer’s digital platform free of charge.
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Borrowers who have experienced a significant reduction in income could be eligible payments as low as $0 by enrolling in a federal Income-Driven Repayment (IDR) plan. With the average borrower paying approximately $300/month on student loans, an IDR plan can result in an annual savings of $3,600 –3x the amount of the $1,200 stimulus checks that arrived for most already months ago. Similar to online tax software, Summer’s digital platform can help Pennsylvania residents check their eligibility across IDR plans and facilitates the entire application process if they qualify.
The Attorney General’s partnership with Summer is directed at all borrowers and especially those financially impacted by COVID-19. Borrowers who have filed for unemployment or who have hours cut due to COVID-19 can use Summer to enroll in savings and forgiveness programs that reduce loan payments based on a status of financial hardship.
CLICK HERE to access Summer’s online platform
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