Many graduates not only have Federal student loans, but also Private student loans that amount to large payments every month. Graduates that are experiencing loss of employment or having trouble gaining new employment during the Corona Virus Crisis should not be burdened with more interest because they cannot make their payments. 

Loan Servicers like Navient and others, should not be profiting from the current crisis and the suffering of graduates that cannot afford their payments. 

We request that Loan Servicers voluntarily and immediately stop payments for Private student loans for graduates that are affected by the crisis during the state of emergency and one more after. 

In a letter to regulators, banking senators are already urging regulators to provide guidelines for financial institutions to: "Work with consumers...affected by the virus and to recognize that they may…face temporary hardship in making payments on their credit obligations…encourage financial institutions to make efforts to modify terms on existing loans."

Currently the only option for those affected is to change their payment to interest only payments, or to go into forbearance. Both options increase the amount graduates have to repay by either extending the life of the loan repayment schedule and/or accruing interest that will be capitalized, increasing the total amount of principal to be paid. 

Loan servicers will profit from both of these options, taking advantage of the current crisis and burdening young generations even further, affecting the economy at large. 

We must not allow these financial institutions to profit from a humanitarian and economic crisis at the expense of young people that have to gain an education in order to compete in an ever more complex job market. 

Please sign this petition demanding these institutions to show solidarity with their customers in this extraordinary situation. They should not wait for the federal government to force them to adopt these measures. The CEOs of these companies must do what is right for the country NOW! 

Financial institutions that hold private student loans include but not limited to: 

Navient, CornerStone, FedLoan Servicing (PHEAA), Granite State-GSMR, Great Lakes Educational Loan Services, Inc., HESC/Edfinancial, MOHELA, Nelnet, OSLA Servicing, ECSI. 

Please feel free to start another petition for additional financial institutions.