Possible Federal Student Loan Payment Extension Until End of 2020
A few months ago many people that were paying federal student loans were so happy to hear that all current payments were put on hold during the pandemic. Now, it looks like it will be extending. According to Forbes.com, the 45th president of the United States of America has recently made it clear that he is working on helping everyone that is currently paying student loans by extending the suspension of student loan payments until December 31, 2020.
The very first payment suspension for the federal student loans was originally set to end on September 30, 2020. If it gets extended, that will definitely be extremely helpful for many people that still have federal student loans to pay off and may be struggling during these tough times.
It was stated on Forbes.com that one of the reasons that the President of the United States is trying to extend the suspension is because the government has not been able to come to an agreement on the second stimulus check. This suspension will take effect if they do not come to a stimulus agreement.
That doesn't sound like a bad idea at all because many people that are paying the current students are Americans that probably lost their jobs during the pandemic or didn't have a job before the pandemic started so this situation makes it harder.
Forbes.com also mentioned that President Donald Trump is also trying to help others with a payroll tax cut, enhanced unemployment benefits, as well as not allowing any landlord to evict their current tenants.