Executive Action to Extend Student Loan Payment Suspension
The Coronavirus Aid, Relief, and Economic Security Act (CARES Act) provided a payment suspension and interest waiver for federally-held student loans, set to expire on September 30, 2020. The CARES Act specifically directs that the months of the payment suspension shall be counted towards federal loan forgiveness for borrowers enrolled in Income-Driven Repayment Plans. On August 8, 2020, President Trump directed the Department of Education to continue the temporary cessation of payments and the waiver of interest on student loans held by the…
