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Student Loans and the coronavirus pandemic
The CFPB has posted an article reporting that the U.S. Department of Education announced that all borrowers with federally-held student loans will automatically have their interest rates set to 0% for at least 60 days. All borrowers with federally-held loans may also request to suspend their payments for at least two months, and delinquent borrowers will have their payments automatically suspended. The Department of Education also announced that they have stopped the collection of defaulted federal student loans for at least 60 days. A list of other things of interest to borrowers regarding a federal-held loans was also provided.