Student Loan Interest & Payments Waived through September 30

[Sad Bunny]

Per the Forbes article..." Payments and interest on all federal loans held by the U.S. Department of Education will be suspended for six months, to September 30, 2020. The payment and interest suspension will be automatic, so borrowers do not have to request it. "

Here’s What The Stimulus Does - And Does Not - Do For Student Loan Borrowers

 

[Tenchi Ryu]

 

[CreepyMcCreeperson]

 

[Field Marshall Bradley]

 

[KING WILL]

Good

 

[UpAndComing]

What would the payments and interest by Sept 30th look like though?

 

[Sad Bunny]

What would the payments and interest by Sept 30th look like though?

There are none lol

It depends on the individual though

My friend's is 400 a month. About 100 usually goes to interest.

So if he keeps paying over these next 6 months all of that will go to principal which is amazing.

Or he can sit on that 400 and stack.

 

[Blankthawtz]

fukk that...we need FULL STUDENT LOAN FORGIVENESS!!!!!.....

 

[Amerikan Melanin]

I have no student loans where is the mortgage freeze??!! The current plan is a deferment and all payments due at the same time.

 

[Heafcliffe]

There are none lol

It depends on the individual though

My friend's is 400 a month. About 100 usually goes to interest.

So if he keeps paying over these next 6 months all of that will go to principal which is amazing.

Or he can sit on that 400 and stack.

That would be
I do wonder if the payments halted or are the accounts in forbearance (still gaining interest)?

 

[Artificial Intelligence]

.......................

 

[El_Mero_Mero]

I asked like a week ago but no one replied:

If this proposal to suspend interest charges on federal student loans during this whole Covid-19 thing goes through, does anyone know if that also applies to loans that have defaulted (and are not actually being monitored by the government anymore)?

Also, does anyone know if that applies only to loans that people have been making payments on? I have a loan that I never made one payment on and it's over 10 years old. It is now officially being held by Reliant Group, not by the Department of Education (even though they had it first).

 

[darealvelle]

Very smart thing to do to avoid having thousand calls a day from loaners requesting a waive and just go ahead and waive everyone.

 

[Software]

I asked like a week ago but no one replied:

If this proposal to suspend interest charges on federal student loans during this whole Covid-19 thing goes through, does anyone know if that also applies to loans that have defaulted (and are not actually being monitored by the government anymore)?

Also, does anyone know if that applies only to loans that people have been making payments on? I have a loan that I never made one payment on and it's over 10 years old. It is now officially being held by Reliant Group, not by the Department of Education (even though they had it first).

 

[FakeNews]

There are none lol

It depends on the individual though

My friend's is 400 a month. About 100 usually goes to interest.

So if he keeps paying over these next 6 months all of that will go to principal which is amazing.

Or he can sit on that 400 and stack.

Man when you put it like that I think Im going to keep paying my shyt instead of holding off until September