The U.S. Department of Education announced that it will provide federal student loan relief to tens of millions of borrowers amid COVID-19. All borrowers with federal student loans will automatically have their interest rates set to 0% for 60 days. Additionally, borrowers will have the option to suspend their payments for two months to allow them greater flexibility during the national emergency. Other flexibilities related to forbearance and delinquency are also being granted during this time.
To view the official announcement, click here.
To view updates related to federal student loan relief, click here.