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Started By
Message
Student Loan payments postponed for 60 days
Posted on 3/20/20 at 11:00 am
Posted on 3/20/20 at 11:00 am
Thank you, Mr. President
Posted on 3/20/20 at 11:01 am to JS87
Day 61: You owe me for two months, sucka
Posted on 3/20/20 at 11:01 am to JS87
Must be nice
I finished mine about 2 months ago
I finished mine about 2 months ago
Posted on 3/20/20 at 11:03 am to Trump_Hands
Just announced at the press conference.
Posted on 3/20/20 at 11:16 am to JS87
Any word on mortgage payments or are different lenders doing different things?
What about cell phone and internet bill?
Utilities?
What about cell phone and internet bill?
Utilities?
Posted on 3/20/20 at 11:17 am to JS87
Any details you can post? I'm googled out today.
I had 100% federal loans. Half subsidized half not. I consolidated them right out of law school. I don't think they are "direct" loans any more. the aessuccess site has some bank name next to both my sub and unsub loans.
I just always assume I'm excluded for any "relief."
I had 100% federal loans. Half subsidized half not. I consolidated them right out of law school. I don't think they are "direct" loans any more. the aessuccess site has some bank name next to both my sub and unsub loans.
I just always assume I'm excluded for any "relief."
Posted on 3/20/20 at 11:24 am to JS87
Oh wait, I made money while attending college. Never mind!
Posted on 3/20/20 at 11:24 am to McLemore
LINK
quote:
WASHINGTON — U.S. Secretary of Education Betsy DeVos announced today that the office of Federal Student Aid is executing on President Donald J. Trump's promise to provide student loan relief to tens of millions of borrowers during the COVID-19 national emergency.
All borrowers with federally held student loans will automatically have their interest rates set to 0% for a period of at least 60 days. In addition, each of these borrowers will have the option to suspend their payments for at least two months to allow them greater flexibility during the national emergency. This will allow borrowers to temporarily stop their payments without worrying about accruing interest.
"These are anxious times, particularly for students and families whose educations, careers, and lives have been disrupted," said Secretary DeVos. "Right now, everyone should be focused on staying safe and healthy, not worrying about their student loan balance growing. I commend President Trump for his quick action on this issue, and I hope it provides meaningful help and peace of mind to those in need."
Secretary DeVos has directed all federal student loan servicers to grant an administrative forbearance to any borrower with a federally held loan who requests one. The forbearance will be in effect for a period of at least 60 days, beginning on March 13, 2020. To request this forbearance, borrowers should contact their loan servicer online or by phone. The Secretary has also authorized an automatic suspension of payments for any borrower more than 31 days delinquent as of March 13, 2020, or who becomes more than 31 days delinquent, essentially giving borrowers a safety net during the national emergency.
Some borrowers may want to continue making payments, like those seeking Public Service Loan Forgiveness (PSLF) or those enrolled in a repayment plan with a manageable monthly payment. For borrowers continuing to make payments, the full amount of their payment will be applied to the principal amount of their loan once all interest accrued prior to the president's March 13 announcement is paid. The Department will work closely with Congress to ensure all student borrowers, including those in income driven repayment plans, receive needed support during this emergency.
Any borrower who has experienced a change in income can contact their loan servicer to discuss lowering their monthly payment.
Visit StudentAid.gov/coronavirus for forthcoming details. For more information on all the efforts the Department is taking to address the COVID-19 national emergency, visit ed.gov/coronavirus.
Posted on 3/20/20 at 11:32 am to JS87
Mortgages are probably next. At least the interest part.
I’ll still make sure to pay into my escrow account though
I’ll still make sure to pay into my escrow account though
Posted on 3/20/20 at 11:35 am to Paul Allen
I can’t imagine how much people’s utility bills are gonna skyrocket.
Posted on 3/20/20 at 11:39 am to JS87
He'd be an a-hole if he didn't do it with the circumstances
Posted on 3/20/20 at 11:43 am to JS87
Wife and I are both still working she gets to work from home so checks still rolling in. The stimulus package and 0% interest on student and mortgage, plus my commute to work is so much better. This pandemic is actually helping me out a great deal.
This post was edited on 3/20/20 at 11:46 am
Posted on 3/20/20 at 11:45 am to JS87
I've got a feeling, and I'm a smart guy
Posted on 3/20/20 at 11:46 am to JS87
I'm using PSLF so I will just keep paying.
Posted on 3/20/20 at 11:46 am to Paul Allen
quote:
0% house loan?
Sorry meant mortgage I fixed it now. I know it hasn't been announced but I'm sure that's next.
Posted on 3/20/20 at 11:48 am to LB84
For existing homeowners or new purchase?
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