Payments On Federal Student Loans Temporarily Suspended
Recently the POTUS brought a smile to some people by temporarily stopping the interest on all student loans and now things just got even better.
FOX29.com recently reported that the federal government has decided to wave student loan payments. But yes, there is always a but. This is only for federally-held student loans and it will only allow the suspension of payments for about 60 days. That's two months' worth of payments if you think about it.
One thing you should not do is just ignore your payments and believe that it will be automatically waived. According to Fox 29, you should still contact your lender in regards to your loan payments and check to see if they will still grant you the 60 days of no payments.
Another thing you might want to know is that President Trump said: “and if we need more, we’ll extend that.” according to Forbes.com.
The coronavirus has been making it tough financially on some people and this will definitely help out a little.