On March 20, 2020, the Secretary of Education of Federal Student Aid provided the following relief on federal student loans.
- Suspend loan payments
- Stop collections on defaulted loans
- Set interest rates to 0% for a period of 60 days.
On March 27, 2020, Congress passed the CARES Act which provides this relief through September 30, 2020.
On August 8, 2020, President Trump directed the secretary to continue to suspend loan payments, stop collections, and waive interest on student loans until December 31, 2020.
For more information, visit the studentaid.gov website.
