The Plan does not permit variations in your scheduled loan payments (other than a lump-sum payment to pay down a loan balance in its entirety). Loan payments must follow your existing loan amortization schedule. The Plan also does not permit loan re-amortization other than for an approved leave of absence or a Coronavirus-Related* loan suspension/extension.
* You are an eligible individual if you satisfy one of the following criteria: (1) You, your spouse, or a dependent (as defined in Code section 152) are diagnosed with the virus SARS-CoV-2 or with Coronavirus disease 2019 (COVID-19) by a test approved by the Centers for Disease Control and Prevention. (2) You, your spouse, or a member of your household have/has experienced adverse financial consequences as a result of being quarantined; being furloughed or laid off; or having work hours, pay, or self-employment income reduced; had a job offer rescinded or a new job’s start date delayed due to such virus or disease; being unable to work due to lack of child care due to such virus or disease; closing or reducing hours of a business owned or operated by you due to such virus or disease; or other factors as determined by the Secretary of the Treasury (or the Secretary's delegate). Note: a “member of the household” is someone who shares your principal residence. You may self-certify to your eligibility on the withdrawal form.