This month, many universities and colleges are welcoming students back to campus, even if most campuses are largely online this year.
But that's not all that's different. The current administration has issued an executive memorandum that extends the temporary halt on all federal student loan payments, which was originally granted by the CARES Act, until December 31, 2020. This executive action instructs the Department of Education to “continue the temporary cessation of payments and the waiver of all interest on student loans held by the Department of Education.”1
What about the interest?
What should you do next?
1. Whitehouse.gov, August 8, 2020
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August 12, 2020 - Federal Student Loan payments paused due to COVID-19
| August 12, 2020