Student loan payments getting suspended for six months

As many of you are aware, Congress is currently finalizing a package of aid worth $2 trillion that will be aimed at helping the economy recover.

We’ve already heard some specific details about the aid going to the airlines and airports. They will be getting close to $60 billion and that it will come with certain conditions like limiting bonuses to executives and preventing certain types of use of the funds like stock buybacks.

But there is another provision in there that would benefit a lot of people: students.

Federal student loan borrowers will likely get six months of reprieve from their loans. During this time, they will not have to make student loan payments and they will also get interest suspended for six months.

I’m still waiting to get the full details on any other student related benefits but I thought it was worth passing it along because this could amount to substantial savings for a lot of people.


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