Whether you’re currently in college for a few years or have recently returned to college, we understand this is a time of uncertainty. You may be wondering how the impact of the COVID-19 emergency affects your federal financial aid. Below, we’ve outlined flexibilities that are available to students during this time.
On Aug. 8, 2020, President Trump extended the 0% student loan interest rate and suspension of payments on federal student loans owned by the Department of Education (ED) until Dec. 31, 2020. These relief measures began on March 13, 2020, and below you’ll find a recap of the resulting repayment flexibilities for student loan borrowers and relevant considerations.