Below you'll find a list of all posts that have been tagged as “coronavirus”
The Covid-19 Pandemic has taught us many important student loan lessons. Some of these lessons were harsh. Others were a pleasant surprise. The borrowers and future students who apply these lessons to their planning will be better situated to manage their debt — no matter what the future holds. Federal …
The Covid-19 student loan payment and interest freeze may impact the 2020 tax returns of many borrowers. The obvious impact is the potential for a smaller student loan interest deduction. Fortunately, this particular loss will be small or non-existent for most borrowers. Beyond the obvious, married borrowers may need to …
Arguably, federal student loan servicing has always been a mess… so predicting issues when repayment resumes is an easy call. The end of the federal student loan interest and payment freeze will present huge challenges to borrowers and loan servicers. Fortunately, borrowers can get proactive to avoid many of the …
The fine print says that many borrowers with FFEL student loans are not eligible for the Covid-19 forbearance and 0% interest rate. However, there is a way to convert FFEL loans to gain eligibility. The federal interest and payment freeze only applies to “federally held” student loans. FFEL loans are federal …
As part of the financial relief during the Coronavirus epidemic, interest rates on most federal student loans have been temporarily lowered to 0%. This interest rate freeze has been extended several times already and is now set to expire on September 30th, 2021. The most recent extension comes via an …
Today Congress will be passing a new Covid-19 related stimulus bill. Unfortunately, the relief doesn’t include an extension of the 0% interest and payment freeze on federal student loans. Earlier versions of the bi-partisan legislation included an extension on the federal student loan payment and interest suspension currently set to …
The Department of Education is currently issuing payment refunds to borrowers who made federal student loan payments during the Covid-19 Pandemic. This relief includes payments that were made by an automatic direct deposit and by manual withdrawal. Borrowers who have had wages garnished are also eligible for a refund. All …
Editor’s Note: This article was originally published on October 8, 2020, it has been updated to include President Trump’s support of student loan forgiveness as part of the Covid-19 relief bill. The idea of $10,000 worth of federal student loan forgiveness to combat the economic fallout from Covid-19 has been …
Editor’s Note: This article was originally published on August 10, 2020. It has been updated to include new guidance on student loan forgiveness and the interest freeze provided by the Department of Education. The Coronavirus pandemic has caused the federal government to take unprecedented steps to help borrowers manage their …
Editor’s Note: The initial lender reviews for this article took place on August 3rd, 2020. If a refinance company takes steps to provide better guidance to borrowers, its grade will be updated accordingly. Businesses love to brag about how they do the right thing and put consumers first. Sadly, this …
