President Trump on Friday announced that the administration would allow federal student loan borrowers to suspend their payments without penalty for at least 60 days.
Department of Education Secretary Betsy Devos directed federal lenders to allow borrowers to suspend their student loans and loan payments without penalty for at least the next 60 days, with a possible extension, if needed.
“Borrowers should contact their lenders, but we’ve given them very strong instructions,” Trump added. “That’s a big thing, that’s going to make a lot of students very happy.”
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