President Trump has 'good news for the students': All interest on federal student loans has been waived and loan payments can be suspended for 60 days without penalty
SAN FRANCISCO (KRON) – President Donald Trump on Friday announced that interest on all federal student loans has been waived amid the coronavirus pandemic.
Additionally, borrowers will be allowed to temporarily suspend payments.
Borrowers will be able to suspend student loans and loan payments without penalty for at least the next 60 days.
“Borrowers should contact their lenders, but we’ve given them very strong instructions,” Trump said. “That’s a big thing. That’s going to make a lot of students happy,” Trump said.