According to reports, once Donald Trump signs the new Coronavirus aid bill, lenders must stop requiring payments as well as mounting interest on federal education loans.
As the Coronavirus pandemic continues to worsen, Americans will get a break from paying Federal student loans for 6-months.
The bill reads that: each month for which a loan payment was suspended” will be treated as if “the borrower of the loan had made a payment.”
Lenders will also have to inform borrowers that their Federal student loan payments were suspended within 15 days of Donald Trump signing the bill.