March 9, 2009
Contacts: Michael Nemelka, Associate Executive Director of Business Development, 801-366-8410, mnemelka@utahsbr.edu or Spencer Jenkins, 801-321-7110, sjenkins@utahsbr.edu

SALT LAKE CITY - The Utah Higher Education Assistance Authority (UHEAA) announced today a new program to help student loan borrowers who are facing challenges making their payments. Called “Ray of Hope,” the program is aimed at helping borrowers whose loans are administered by UHEAA. The Ray of Hope program can assist borrowers who are delinquent on their student loan payments or foresee difficulty making payments by allowing them to temporarily reduce their payment amount or temporarily stop making payments. 

 “We recognize that downsizing, budget cuts, and hiring freezes are making it difficult for borrowers to make their payments. We want to do whatever we can to help them,” said David Feitz, Executive Director of UHEAA, “UHEAA employees coined the name because they often work closely with borrowers in these circumstances and know how stressful it can be for them.” 

Borrowers who have lost a job or who are otherwise having financial difficulties could qualify for help under this program with minimal paperwork.   UHEAA Customer Service agents can review their situation and help them determine the best course of action. Reduction of the monthly payment amount or deferment of payments are two options that can relieve the pressure on borrowers while they take steps to regain their financial footing.

For more information on “Ray of Hope” please call UHEAA Customer Service at (801) 321-7294 or toll free (877) 336-7378 Monday through Thursday 8 a.m. to 8 p.m. or Friday from 8 a.m. to 5 p.m.

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The Utah Higher Education Assistance Authority (UHEAA), a subsidiary of the Utah State Board of Regents, administers Utah's student financial aid programs, including the student loan guarantee program and secondary market, state need-based financial aid, the Utah Educational Savings Plan Trust, and the Utah Engineering and Computer Sciences Loan Forgiveness Program.