The CARES Act was passed at the beginning of the pandemic to provide relief for student loan borrowers by subsidizing interest payments and lowering monthly payments to $0 dollars a month. An unforeseen consequence, however, is that this is detrimental to student loan borrowers looking to take advantage of low interest rates and purchase a new home.
In light of President Trump's announcement, we wanted to publish a guide to help you understand what is happening and how to lower your payments.
CARES Act student loan provisions summarized in writing and video details the best student loan strategies in light of the CARES Act.
CARES Act or the COVID-19 Relief Bill gives more benefits than $0 payments and 0% interest for 6 months. You can use this time to extend lower payments and get loan forgiveness.
The CARES Act forbearance for student loans is set to expire on September 30, 2021. Will Biden extend the payment pause?