President Donald Trump announced a week ago that he would waive student loan interest amid the coronavirus crisis -- but borrowers were awaiting details on how it would work and how long it would last. The Department of Education's announcement Friday clarifies the policy change. For now, borrowers will be able to put off two monthly loan payments. Additionally, interest will be waived for 60 days, starting retroactively on March 13.
Interest waiver won't lower your paymentsThe temporary waiver will stop interest from adding up on federal loans, even if the borrower doesn't request it. But that won't lower the amount a borrower owes each month. Monthly payments are typically divided between paying down the principal and the interest.
Huh ? That’s kicking the can down the road. Let the banks eat 6 months of payments. It’s high time we do something for the American people
Any word on mortage and or utilities
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