Great time to pay down those student loans with 0% interest until October.

[Justise M]

What does the CARES Act do about student loans?
All federally held federal student loans are temporarily suspended and interest will not accrue through Sept. 30. The suspension is retroactive to March 13.

“The payment pause and interest waiver is essentially freezing your loans in time,” said Mark Kantrowitz, publisher and vice president of research at SavingforCollege.com. “The loan balance that you have now will be the loan balance that you have on Sept. 30. It will not change.”

Do I still need to pay my student loans? What the CARES Act offers for COVID-19 relief - Marketplace

If your able to take advantage, id do so

 

[JT-Money]

They need to do this for credit cards and quit playing. I don't see anyway to avoid massive riots the longer this goes on. Most states can't even keep up with the amount of unemployment benefit claims right now.

 

[filial_piety]

Yeah Im definitely taking advantange of this....my hope is that when October hits, they'll just extend this indefinitely. I won't knock it off completely, but i'll be able to knock off more of the principle in a few months, than I have in about 10 years.

 

[UpAndComing]

Slick way for loan companies to entice people to pay back their student loans

 

[TL15]

They need to do this for credit cards and quit playing. I don't see anyway to avoid massive riots the longer this goes on. Most states can't even keep up with the amount of unemployment benefit claims right now.

Credit cards won’t cause riots because they can only effect your ability to get more credit in the future. In this “day and age” it’s merely implied pressure. If shyt hits the fan people are going to run their credit into the ground before paying back the card


If you NEED money or are uncertain, then don’t pay off any debt, only necessities. If you are still working and doing well, take this as a time to be fiscally smart. And there are so many ways to make money during this time that if you are industrious you can find a new niche. (I know that’s kinda irrelevant but just throwing it in there )

 

[2stainz]

My shyt is supposed to be 0% interest but everytime I check in on my loans the balance has increased.

I called them and they said it takes time, its been 1 month now (March 13th)

this sum bullchit. Nelnet playing funny games with my money

 

[calixprynce]

i'm paying more on my car instead. Im not in a rush to pay off student loans cuz its my oldest account on my credit profile. Im gonna keep it for as long as i can ,