Student loan interest freeze: Check if your loan is eligible
Recent data shows that 44.7 million Americans carry $1.71 trillion in total U.S. student loan debt. For the time being, payments on those loans can wait, and interest will not accrue.
On Jan. 20, the White House posted the following statement:
“At the request of President Biden, the Acting Secretary of Education will extend the pause on federal student loan payments and ...
Posted — UpdatedRelief During The Pandemic
Who Is Affected?
- Defaulted and non-defaulted Direct Loans;
- Defaulted and non-defaulted FFEL Program loans;
- Defaulted and non-defaulted Federal Perkins Loans;
- Defaulted HEAL loans.
Private student loans, FFEL Program and HEAL loans owned by commercial lenders, and Perkins Loans owned by an institution are not eligible for this benefit.
Eligible loan accounts were adjusted automatically effective March 13, 2020. Also, any payment you made during the suspension of payments can be refunded by contacting the servicer.
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