Coronavirus Forbearance Details

To provide relief to student loan borrowers during the COVID-19 national emergency, SUA Soka loan borrowers in regular standing* are automatically being placed in an administrative forbearance, which allows you to temporarily stop making your monthly loan payment. This suspension of payments will last until June 30, 2023,** but you can still make payments if you choose. 

**Update: Forbearance has been extended to June 30, 2023

0% Interest

From April 3, 2020, through June 30, 2023, the interest rate is 0% on all Soka Loans administered by SUA (through Heartland ECSI). All accounts are automatically set to 0% interest during this period. You are responsible for any interest accrued prior to this period. Any payments received will pay the principal once all the interest and fees accrued prior to April 3 are paid.

Temporary Suspension of Monthly Payments

Administrative forbearance will last from April 3, 2020 through June 30, 2023. During this period, you will not receive a billing statement and will not be required to make a payment. However, any payments received will not be refunded, and will pay the principal balance after paying all the outstanding interest and fees accrued prior to April 3. Extra payments made during this period will help lower the overall cost of your loan. If you would like to check on your account, please log in to your Heartland ECSI account to view your account information.

If you have set up recurring payments and have selected to have payments drawn during a deferment or forbearance period, Heartland ECSI will continue to draw the payments unless you log in to your online account to update the draw option.

You also have the option to remain in the administrative forbearance and make manual (i.e., not auto-debit) payments during the administrative forbearance period. Visit Heartland ECSI’s website to make a payment online, or contact Heartland ECSI for more information. Heartland ECSI can be reached toll-free at (888) 549-3274 or via live chat on the website.

Late Fees

During the forbearance period from April 3, 2020 through June 30, 2023, loans will not incur any late fees. All late fees assessed prior to this period will be the responsibility of the borrower.

Loans on Default

During the forbearance period from April 3, 2020 through June 30, 2023, defaulted accounts will not be forwarded to a collection agency. Such accounts will be forwarded to the collection agency after this period if your loan is in default status. If your account is already placed with a collection agency, please contact them to make arrangements.

*Regular Standing – account is in a normal status, and in good standing.

These accounts will not qualify as a regular standing and will not receive an automatic forbearance through this program:

  • account is more than 9 months past due
  • account is on deferment or forbearance
  • account is placed with a collection agency 
  • account has an active stop/hold status 

If your account falls under one of these categories, please contact the Office of Student Accounts to discuss your account situation.