The Trump administration just announced a temporary waiver of federal student loan interest. The catch? Your required payments won’t decrease, but your entire payment will go to principal. This is better for you in the long run, but does not automatically provide short-term relief. If you’re having trouble making payments right now, request a forbearance from your loan servicer. This puts a pause on payments, and, while interest is waived, does not cost you anything. Learn more about how to take advantage of the temporary student loan interest suspension on the College Coach Insider blog at blog.getintocollege.com.

Written by College Coach
College Coach® is the nation’s leading provider of educational advising, offering expert guidance from the best college admissions consultants on the college admissions and finance process. Our goal is to help each student maximize his or her chances of success through services focused on their personal desires, goals, individual strengths, and accomplishments.