Trump administration halts interest payments on student loan debts during coronavirus pandemic

[mom2collegekids]

@twoinanddone

It’s possible for those in repayment to only pay the interest amount each month. My daughter has two student loans and both state the amount of interest due and the amount of the payment being posted to principal. She’s at the beginning of the repayment, so if they did suspend interest payments her payments would drop to about $10 (from $40) per month for one and about $30 ($230) for the other, which would be a big help to her budget.

Of course, suspending them all together would be better!

Ok, so this would be a big help for people like your daughter.

Totally aside from the virus crisis…I’m also wondering if this is also an exercise to see if having a time period (how long?) of zero interest that people will be able to make more serious progress on their debt, if their debt isn’t a huge amount.