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.
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