Student Loan Interest is Waved Because of Coronavirus
The coronavirus has not only had a huge effect on our health, but because of the rapid spread of it, many businesses have closed. If those businesses don't pay their employees a salary and they get paid hourly or solely survive on tips, those workers are really struggling right now to pay their bills.
Many people in this country struggle with debt of all kinds. The only debt I have is my student loans, and I hope I can pay that off soon. I will throw a party the day that they are paid off. It's a big monthly expense and if you don't pay them, it can really lower your credit score. So I was really excited to hear President Trump's announcement a few days ago that he is issuing an executive order for all federal student loan interest to be put on hold at this time. We are awaiting the details, the President has been a little busy holding daily press conferences to keep the public informed about the spread of COVID-19.
Read more about this here.