Student Loan Repayments Postponed Until 2021

The U.S. Department of Education’s Secretary Betsy DeVos announced on Friday that the government will extend the forbearance period on federal student loans until January 31, 2021 due to business closures as a result of rising Covid-19 cases.

The short relief does not include private student loans. Interest has been paused on federal student loans since early March, when the pandemic became prevalent however individuals who are seeking to make payments can still do so via their loan servicer.


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