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NextGen Magazine


Student Loan Relief Begins

Chris Gaetano
Published Date:
Mar 24, 2020

People with student debt may now apply for temporary loan relief in response to the worldwide pandemic, according to CNBC. The Department of Education will allow any borrower to suspend payments, including interest, for at least the next two months, although they will have to specifically apply for relief. Doing so will not affect one's credit score. Borrowers can go to this website for more information on the application process, or called 1-800-4-FED-AID.

As of about a year ago, there was roughly $1.5 trillion of outstanding student debt.