CARES Act- Student Loan Relief

Protecting the most important person to your family, You!

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Published: March 28, 2020

How can I delay my student loans without incurring additional interest? The Coronavirus Aid, Relief, and Economic Stability Act (CARES Act) allows student-loan borrowers to receive a forbearance until September 30. This means you do not have to pay your student loans until September 30. In addition, the interest that you would otherwise accrue will be paid by the federal government, so the only thing you are doing by taking the forbearance is adding the period of forbearance onto the end of your current repayment period but you are NOT increasing the overall amount you owe.

Source: CARES Act, Section 3513 "The Secretary shall suspend all payments due for loans made under Part D and part B *** through September 30, 2020."