In response to the COVID-19 pandemic and the President’s corresponding March 13 National Emergency Declaration, Ascendium Education Solutions is partially halting collection on all defaulted student loans in its portfolio, effective March 26 for at least 60 days.
Ascendium will not garnish wages, will not submit borrowers to Treasury for offset, and will not engage in outbound collections communications. The only exception is if borrowers are already pursuing or want to pursue a voluntary resolution to their debt – in which case they may be contacted to help reach that resolution.
Ascendium will refund to borrowers all Treasury offsets and garnished wages from March 13 forward, for the duration of this stoppage. Payments borrowers miss during this time will not prevent their completion of a rehabilitation or repayment agreement.
“Ascendium is committed to doing what is right and helping borrowers succeed, and the best way we can do that now is by giving borrowers the opportunity to focus on what truly matters,” said Ascendium Education Solutions President and CEO Jeff Crosby, “Be safe and be well.”