Borrower Relief Update
GSFC Is here to help Georgians during this difficult time. We understand that some borrowers may be experiencing challenges and difficulties resulting from the impacts of COVID-19, which may affect their ability to make payments on their student loan.
Governor Brian P. Kemp announced that Georgia borrowers participating in any state loan program administered by the Georgia Student Finance Authority (GSFA) will automatically receive a 60-day administrative forbearance to assist Georgians who may be impacted by the coronavirus (COVID-19). This administrative forbearance will allow any borrowers who may be experiencing financial hardship to postpone making any required payments for 60 days without having to submit a request.
Read additional information in the press release.
To assist our borrowers, GSFC will be implementing a 60-day forbearance for all borrowers beginning immediately. This forbearance will pause all payments due during the 60-day period and will be applied to all borrowers who are not in default.
We are fully staffed and working to answer your questions as quickly as possible. If you or anyone you know is having concerns about their Georgia Student Loans, please contact the Loan Servicing Department by email at customercare@gsfc.org. Additionally, you can always sign in to https://www.Pathways2GSFA.org/ to view your account status and make a payment.
Please review the frequently asked questions below.
FOR BORROWERS WHO ARE IN REPAYMENT:
What is GSFC doing for me?
GSFC will be applying a 60-day administrative forbearance to all accounts that are not defaulted. Accounts that are delinquent on payments will be brought current. Default accounts will receive a two-month pause on collection activities.
How do I receive the administrative forbearance?
GSFC will automatically be applying this forbearance to your account. You do not need to request the forbearance. You will receive documentation in the mail that provides further information.
Will interest accrue during my forbearance?
At this time, interest will continue to accrue while in forbearance but will not capitalize.
What if I’m unable to make my payment after 60 days?
If you are unable to make payments after the 60-day administrative forbearance, you may request a deferment or forbearance (if you have forbearance time available). GSFC offers unemployment deferments and economic hardship deferments.
FOR SAL BORROWERS WHO ARE CURRENTLY ENROLLED IN SCHOOL, IN GRACE OR DEFERMENT:
Do I have to continue making KIT payments?
During the months of May and June, 2020, no KIT payment will be required. Please keep in mind KIT payment requirement continues July 2020 (after the completion of the 60-day payment waiver).
FOR SAL BORROWERS WHO ARE REQUIRED TO PAY ANNUAL INTEREST:
We will delay sending the annual interest statement for two months. The Annual Interest statement will be emailed on June 1, 2020. NOTE: This does not apply to your federal loans.
