As part of a federal response to economic pressure resulting from the COVID-19 pandemic, federal student loan payments are currently suspended for six months without interest. This pause ends on September 30, 2020 as per a provision in the Coronavirus Aid, Relief and Economic Security (CARES) Act. During this time, borrowers who fail to make payments on their federal student loans will not be penalized. The same rules don’t apply to private student loans.
For borrowers who …
