Current students and alumni who have outstanding student loans have a slight reprieve for the next few months thanks to new orders from the Trump Administration.
The Trump Administration is allowing federal student loan borrowers to take a break from making monthly payments, without incurring interest or penalties until the end of September.
Trump’s CARES Act is allowing borrowers to opt out of paying their federal student loans until September 30, 2020.
In addition to suspending payments, the Act will set the interest rates on all federally held student loans to zero until September 30 as well.
For more information, read the article here.
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Tags: Financial Aid, Office of Financial Aid, student loans