Student loans put on hold
Measures have been put in place to help people with their loan payments during the coronavirus pandemic.
From now until May 13, interest rates on federal student loans will be 0%.
That 0% interest rate is automatic, and it’s already in effect.
Borrowers will also have the option to stop payments for a period of two months.
Borrowers can request a stop payment by contacting their loan provider online or over the phone.
If you can still make your payments during this time, experts say you should.
These breaks only apply to federal student loans. If you have a private student loan, you’ll still have to pay interest.
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