Following President Biden’s Executive action signed on 1/20/21, the Education Department extended pandemic relief through September 30, 2021. Federal student loan borrowers will not be expected to make payments through September 2021. Non-payments will continue to count toward the number of payments required under an income-driven repayment plan, a loan rehabilitation agreement, or the Public Service Loan Forgiveness program.
During this forbearance period any payments will go directly to the loan principal which will lower your interest payment in the future. We urge our clients to take advantage, if financially feasible, of this opportunity and pay down the principle on your loans.
This article was posted by the U.S. Department of Education:
If you or anyone know anyone you know needs help understanding their student loan status please feel free to contact us.
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