Home Coronavirus Coverage Trump: Federal student loan borrowers can suspend payments for 60 days – Politico

Trump: Federal student loan borrowers can suspend payments for 60 days – Politico

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Borrowers would have to contact their student loan servicers to take advantage of the benefit, Trump said.

President Donald Trump announced on Friday that he will allow the nation’s more than 42 million federal student loan borrowers to take a break from making their monthly payments, without incurring interest or penalties for at least the next two months.

Trump also announced that he will let states waive federal testing requirements for elementary and high school students, both moves in response to the coronavirus pandemic. State leaders have been increasingly anxious about testing mandates as the coronavirus shutters schools across the nation.

On student loans, in addition to suspending payments, the Education Department said it would set the interest rates on all federally held student loans to zero until at least May 12. That carries out Trump’s announcement last week that he was waiving the interest on student loans.

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