Personal Finance

Coronavirus: Borrowers Can Delay Student Loan Payments By 60 Days

The decision, announced Friday by Trump, will help lessen the economic burden on Americans caused by the new coronavirus pandemic.

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Borrowers may delay student loan payments for 60 days to help offset the economic burden caused by the new coronavirus outbreak, President Donald Trump announced Friday.
Borrowers may delay student loan payments for 60 days to help offset the economic burden caused by the new coronavirus outbreak, President Donald Trump announced Friday. (Getty Images/iStockphoto)

WASHINGTON, DC — President Donald Trump said Friday he will instruct the U.S. Department of Education to allow federal student loan borrowers to suspend payments for at least 60 days without penalty as the United States battles the new coronavirus pandemic.

Borrowers will need to contact their student loan servicers to take advantage of the benefit, Politico reported, adding that the president mentioned there is "more to come" regarding student loans and the ongoing coronavirus outbreak.

Read more via Politico

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