Federal Student Loan Forgiveness
Coronavirus (COVID-19) Updates
Please note that on August 24, 2022, the federal government announced a new debt cancellation program for certain federal student loan holders (including Pell Grant recipients and non-Pell Grant recipients). Refinancing your federal loan with a lender on our website means that you will not qualify for this program, and you will lose other current and future federal student loan benefits that you may be eligible for. If you have federal student loans, we strongly recommend reviewing your current and potential future benefits before refinancing. If you have questions related to this federal loan cancellation program, please see our FAQ page or visit studentaid.gov.
Who qualifies for forgiveness?
Information on federal loan forgiveness and the end of the payment freeze can be found at studentaid.gov.
Does the government's announcement regarding student loan forgiveness impact my student loans serviced by LendKey?
LendKey services loans on behalf of our lending partners. All student loans serviced by LendKey are private. When a federal loan is refinanced by a private lender, the loan becomes private, and any federal benefits no longer apply to the loan.
All applicants are required to acknowledge the loss of these benefits before they sign their loan agreement. Loan documents can be located in the Disclosures section of the MyAccount Opens in new window.
Where can I find information on the Federal Fresh Start program?
Information about the Fresh Start for Federal Student Loan Borrowers in Default prorgram can be found here.
What should I do if I was applying for a refinance that contained federal loans?
If you would like to make changes to the loans you are choosing to refinance, please contact us at customer.care@lendkey.com.
Last updated: 7/15/2020
We understand that many borrowers are affected by the Coronavirus (COVID-19) and are looking for assistance. As a servicer of student loans, LendKey is obliged to follow the policies of our lending partners, and we are working with them to explore and provide relief options for borrowers who are impacted during this trying time.
Will there be any changes to my services?
The health and safety of our customers and employees is our number one priority. Our normal business hours remain unchanged and we are not expecting any interruptions to the service we provide. Your account can always be accessed online 24-7 from your MyAccount Opens in new window.
If we alter any processes during this crisis we will notify customers who may be impacted.
What can I do if I am having difficulties meeting my financial obligations?
If you are experiencing a hardship and unable to make your monthly payment, you may submit an online forbearance application and any necessary supporting documentation directly from your MyAccount Opens in new window. To access the application, click the Trouble Making Paymentslink.
If you have additional questions, we have a dedicated team to help answer any of your questions and to guide you through options on an individual basis. Please reach out to this team directly at care@lendkey.com.
Does the government's announcement regarding student loan interest impact my student loans serviced by LendKey?
Currently, the interest waiver on student loans applies to loans held by federal government agencies. Loans held by LendKey are considered private student loans and not part of that program. If you are a LendKey customer and have concerns about your ability to meet your student loan obligations, please reach out to care@lendkey.com.
What should I do if my school sent me a refund due to Coronavirus (COVID-19)?
If you received a refund check from your school you can apply the refund to your loan balance. Information on how to make a one-time payment can be found on your MyAccount.