Our loans are through Navient. While they have a COVID-19 notice about the internet rates being set to 0%, under their forbearance section I am not yet seeing a COVID-19 forbearance choice, so it looks like lenders are still catching up to the quickly changing policies.
Check directly with your lender for more information!
President Trump said today that federal student loan borrowers can skip their payments for 60 days. But it’s not automatic.
From the Department of Education’s press release:
All borrowers with federally held student loans will automatically have their interest rates set to 0% for a period of at least 60 days. In addition, each of these borrowers will have the option to suspend their payments for at least two months to allow them greater flexibility during the national emergency.
Read You Can Suspend Your Federal Student Loan Payments for Two Months via Lifehacker
An interesting link found among my daily reading