Ascendium Education Solutions Announces COVID-19 Response
Madison WI: In response to the COVID-19 pandemic, the President’s corresponding March 13 National Emergency Declaration, and subsequent guidance from the Department of Education, Ascendium Education Solutions is partially halting collection on all defaulted student loans in its portfolio, effective March 26 to September 30.
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 that 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. 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.”
Due to the Coronavirus pandemic, we may not be able to answer all the calls we receive. Ascendium is a guarantor in the Federal Family Education Loan Program (FFELP). Student loan borrowers in this program who are not in default should qualify for a disaster forbearance which will suspend required payments, based on the President declaring a National Emergency. In order to have this forbearance applied, contact your student loan servicer to request it. If you do not know the company that services your loan or their contact information, it can be found on studentaid.gov. We wish you well, and hope you stay safe and healthy during this difficult time.