Interest temporarily waived on federal student loans

Interest temporarily waived on federal student loans

The news was detailed in a statement from Education Secretary Betsy DeVos.

For more information about managing your student loans during the coronavirus national emergency, visit the US Department of Education's website. These tests typically take place in the spring.

Senate Minority Leader Charles E. Schumer (D-N.Y.) floated the idea Thursday as part of a host of measures to help borrowers.

The federal government is extending further financial relief to millions of student-loan borrowers.

Anyone who's hoping to qualify for Public Service Loan Forgiveness won't be able to count the months with forbearance toward PSLF, but payments for that program don't need to be consecutive, so borrowers won't lose credit for previous payments, officials said.

On Friday, President Trump announced that all federal student-loan borrowers now have the option to suspend their monthly payments for "at least the next 60 days".

The Department of Education will also grant a waiver to any state who requests a bypass of federally mandated testing requirements for the 2019-2020 year. "They've been through a lot". Schools open. Schools not open. "That's going to make a lot of students happy". "Some probably not. The ones that work hard, maybe not".

Michigan Gov. Whitmer closed K-12 schools in the state from March 16 through at least April 6 amid the COVID-19 outbreak, and many schools have switched to online instruction. The agency said states can begin canceling tests now if they decide it's necessary as a safety measure.

Trump had previously announced that interest would be waived on all federal student loans "until further notice". Although most states have moved to computer-based testing, this announcement is a recognition of the reality that schools are shut down and education has been interrupted for most students nationwide.

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