Trump Allows Borrowers To Suspend Student Loan Payments
There is a small silver lining in the terrifying times we are living. Many people aren't sure when their next paycheck is coming in so the thought of food, and other necessities is prevalent on everyone's mind.
Well President Trump is implementing a suspension on federal student loans for at least 60 days.
According to CNN
Corrowers will be able to put off two monthly loan payments. Additionally, interest will be waived for 60 days, starting retroactively on March 13.
The suspension of payments does not wipe away debt and they want it to be clear this will NOT be automatic. You must contact your student loan servicer and request that the loan be put in forbearance.