Important Updates on COVID-19

Providing assistance to our customers and employees during the current COVID-19 situation is our top priority at this time. We are closely monitoring the latest updates from government and health organizations and will post any updates that may impact you on this page.

Disclaimer: This information is subject to change, based on future guidance from the Department of Education.

Temporary Interest Rate Reduction

In response to the COVID-19 pandemic, the Department of Education has announced that all federally held student loans (including Parent PLUS loans) will receive a temporary 0.00% interest rate effective 03/13/20. We expect this to be implemented within the coming weeks and backdated to begin 03/13/20. This interest rate will remain in effect until further notice. Any unpaid interest that accrued prior to 03/13/20 will remain on the account. This interest rate reduction will not change the monthly payment amount. No action will be required from you to receive this interest rate reduction. 

COVID-19 Administrative Forbearance

The Department of Education has also announced an administrative forbearance for all federally held student loans. This is a non-capping forbearance, which means that no interest will be capitalized (or added to your principal balance) when the forbearance ends. This forbearance will be automatically applied for at least 60 days to a federally held student loan account that is 31 days or more past due. If your account is 31 or more days past due, you do not need to request the forbearance; we will automatically apply it to your account as directed by the Department of Education. You will receive an approval letter via your preferred correspondence method when the forbearance is applied. During the forbearance, you will not be required to make payments and no additional interest will accrue while the 0.00% interest rate reduction is in effect. You may request to cancel or end the forbearance at any time. 

If your federal student loan account is between 0-30 days past due, it will not have a forbearance automatically applied; however, you may contact ASLA to request the forbearance be applied to your account. If you have an account that is between 0-30 days past due and want to request the forbearance, please contact us.

NOTE: Account numbers beginning with ‘F’ are federally held student loans.

If you have a commercial or privately held student loan with ASLA and need assistance, please contact us to speak with a customer service representative. 

Want to keep making payments towards PSLF or IDR Forgiveness? 

You may contact us to remove or shorten the administrative forbearance, and continue to make payments towards PSLF or IDR forgiveness, provided that you meet all other qualifications. 

Customer Assistance

We want to assure you that we are here for you. If you’ve been impacted by COVID-19 (directly or indirectly) and need to lower or postpone your payments, we have several options available to assist you. You can lower your monthly payment by changing your repayment plan or postpone payments altogether by applying for a deferment or forbearance. You can get more information on these options through any of the methods below:
  • Login to Manage My Account – select "Repayment Options" from the "Payments" menu.
  • Send us an email with your questions or concerns.
  • Speak with a customer service representative by calling 1-800-443-6030.

Operational Updates

Our call center is open, and we do not anticipate any service interruptions at this time. We will continue to monitor the situation closely and provide updates on this site if anything changes. 

Please note that you may experience longer wait times than usual during the COVID-19 pandemic. Thank you for your understanding during this time. 
 

If you have any questions or concerns, please don’t hesitate to contact us or speak with a customer service representative at 1-800-443-6030.

Please visit this page for additional updates.