Federal scholar mortgage funds suspended till finish of January
© Reuters. FILE PHOTO: U.S. President Trump hosts coronavirus response event on reopening schools at the White House in Washington
By Brendan O’Brien
(Reuters) – U.S. Secretary of Education Betsy DeVos on Friday said the suspension of federal student loans payments and accruing interest set to end on Dec. 31 will be extended another month as the pandemic presents financial challenges to borrowers.
“This temporary pause in payments will help those who have been impacted,” DeVos said in a statement. “The added time also allows Congress to do its job and determine what measures it believes are necessary and appropriate.”
In March, the Trump administration suspended interest and payments on federal student loans for 60 days. In August, the moratorium was extended until Dec. 31 and on Friday it was extended until Jan. 31. DeVos has also instructed employers to halt wage garnishment for borrowers with defaulted federal student loans.
DeVos’ announcement came after a government report earlier in the day showed the labor market slowing in November as talks aimed at delivering a fresh infusion of coronavirus relief to American families and businesses gathered momentum in the U.S. Congress.
Disclaimer: Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. All CFDs (stocks, indexes, futures) and Forex prices are not provided by exchanges but rather by market makers, and so prices may not be accurate and may differ from the actual market price, meaning prices are indicative and not appropriate for trading purposes. Therefore Fusion Media doesn`t bear any responsibility for any trading losses you might incur as a result of using this data.
Fusion Media or anyone involved with Fusion Media will not accept any liability for loss or damage as a result of reliance on the information including data, quotes, charts and buy/sell signals contained within this website. Please be fully informed regarding the risks and costs associated with trading the financial markets, it is one of the riskiest investment forms possible.