Recently President Trump announced he will waive the interest on student debt held by federal agencies “until further notice” in response to the COVID-19 coronavirus pandemic. Shortly thereafter, he suspended student loan payments for 60 days as well. While interest will be automatically waived, you will need to contact your loan servicer in order to request forbearance, or to suspend your payments.
Pres. Trump announced that all federal student loan payments have been suspended without penalty "for at least 60 days"https://t.co/Qrx3PJ9ywG pic.twitter.com/BpXiy3ITsw
— CBS News (@CBSNews) March 20, 2020
Since this payment deferral measure is described as an “administrative forbearance,” it will likely not count toward the total amount of forbearance you are allowed through the length of your loan, but we encourage you to discuss the specific terms when speaking wi… Read More