Amid the health concerns associated with the global pandemic, the coronavirus has brought with it business closures, stock market volatility, and unprecedented economic uncertainty. People are worried about their jobs, their savings, and—yes—their student loans.

Can a Parent PLUS Loan be forgiven?

The short answer is yes.

And no.

Confused yet?

While the social distancing measures necessitated by the COVID-19 outbreak—cancelled events, school closures, and forced remote work—have inconvenienced nearly all of us, for some, coronavirus has meant economic catastrophe. Workers who become ill without access to paid sick leave, small business owners forced to close up shop, and hourly and/or tip-dependent employees dealing with either closed—or simply empty—workplaces can quickly find themselves teetering on the edge of financial solvency.

In recognition of this dilemma faced by many working families—and, specifically, many student loan borrowers—President Trump announced on Friday afternoon that his administration will be temporarily waiving interest charges on federal student loans. 

If you or your child plan to borrow federal student loans for the upcoming school year, we have some important news for you. We now know what student loan interest rates will be for the 2019/20 academic year.

Student loan indebtedness is always a hot topic these days, and there’s been a lot of media coverage recently about various federal loan forgiveness, discharge, and cancellation programs. Every program is a little bit different, and it can be downright confusing to figure out which program, if any, might work for you. We’ve decided it’s time to provide you with a summary of what’s out there.

Recent college graduates must learn to navigate lots of new experiences—new freedoms, new responsibilities, and, yes, new bills. Graduates who borrowed student loans to help finance their undergraduate educations will soon be entering the world of student loan repayment—a domain that can be challenging to traverse, particularly on an entry-level salary. Borrowers wanting to get the lay of the repayment landscape should head on over to the Fortuna Admissions blog to learn about their loan repayment options from College Coach finance consultant, Shannon Vasconcelos.

Did you receive a scholarship from a US college or university? Consider yourself fortunate; everyone loves free money! For many college students and their families, education loans are part of the paying strategy. Loans are not free money. If you are an international student and regular reader of our blog, you already know that there are certain types of financial assistance that you will not be eligible for if you decide to pursue a US degree.

What about loans? Can they be part of your paying strategy if you don’t receive enough in scholarships or haven’t saved enough to cover your education? Given the reality that student loans are a big part of how families are covering college costs today, we wanted to explore the options available to international students.

Breaking news for student loan borrowers: We now know what interest rates will be on federal student loans for the 2018/19 school year.

If you’re a high school senior or a parent of a high school senior, congratulations! You have officially made it through the college admissions process! The May 1^st deposit deadline having just passed, you have likely made your college decision and put a deposit down at the school of your choice. The next decision point for many families will now be which college loan to choose. How does one go about making this important decision of how to finance their college education?

When families ask us about the pros and cons of using private education loans, the finance educators at College Coach are quick to point out that private loans can be less flexible and riskier than federal loans. In mid-March, the Senate passed a bill that, if eventually approved by the House and signed by the President, will make private student loans a little less uncertain.  The Economic Growth, Regulatory Relief, and Consumer Protection Act is a revision of parts of the 2010 Dodd-Frank financial reform bill, and there are two obscure but troublesome features of private loans that it addresses.