Federal Student Loan Payments Deferred Through December

Student Loans

On Friday, August 21, Secretary of Education, Betsy DeVos, implemented a measure, providing student loan borrowers with an additional three months of relief. 

All borrowers with federally held student loans will have their payments automatically suspended until 2021 without penalty,” reads a statement from the secretary. “In addition, the interest rate on all federally held student loans will be set to 0% through the end of the calendar year [2020].”