Student loan borrowers will get some relief with the new Corona Virus Aid, Relief and Recovery Act (CARES).
The bill does not forgive any part of federal student debt, but it does give borrowers an additional four months (added to the two months already approved) to delay their payments. Until Sept. 30, borrowers will not be penalized for late payments.
If the loans are private, or if you just switched your loans from federal to private, borrowers will get no relief from this bill, according to Market Watch.
Rick Good spent ten years in the newspaper business, including with The News & Observer (Raleigh, NC) and The Greenville News (Greenville, SC). He co-wrote, with Melinda Coleman, Rutledge to Riley: Governors of South Carolina, 1776–Present (Published by The Greenville News), and is the author of Mind Games Trivia #1 (Amazon). He has recently spent 15 years creating original trivia content through Sounds Good Mobile Entertainment and continues that with his new company, SGME Software. He edits The Smart Reader’s money, real estate, and business coverage.