Your Voice, Our Headlines

Download Folkspaper App with no Ads!


A fast-growing newspaper curated by the online community.

Student Loan Payments Suspended Through September

  • tag_facesReaction
  • Tip Bones

There have been a lot of rumors and suggestions thrown around in these strange times in regard to the aid Americans are supposed to be getting as relief for the strain we're all feeling from the pandemic. We've been told we're receiving checks. Of course, we haven't seen these checks yet as no one in our government can agree on what we should or should not get. 

One thing that was agreed upon, and put into effect almost immediately when the pandemic really took hold of the US, was the freezing of all student loan interest. After that was established, it was discussed if halting student loan payments was a good idea, and then it was decided that student loan payers would be allowed to delay payments for at least two months just by contacting their loan holders.

Now, they're taking this relief effort one step further, and anyone in need of delaying student loans due to financial struggles is allowed to defer their loan payments through the end of September. This is a huge help to those who currently can't afford their bills, but it will still negatively affect these people as they're just delaying how long they'll have to continue to pay them off.

My biggest hope, since it seems as though we'll be stuck with this "new normal" for a while, is the government will take the student loan relief the next step further and forgive a good portion of student loan debt that they feasible can. People are drowning in debt, and people in debt can't help lift the economy back up after this pandemic if they're don't get some help now.

Check out the Forbes article for more info!