We were interviewed by the Penny Hoarder this week in their story “How You Could Get a Temporary Break from Student Loans Due to COVID-19.”
You should also check out our recent blog post “Watch Out for These Pitfalls that may come with Suspended Federal Student Loan Interest.”
Under the right circumstances, a six month forbearance with non-accrual of interest will help a lot of folks. But beware that not everyone will qualify for this and their credit could be impaired if payments are not made. An income driven plan starting right now could be a better option for those with FFEL loans! You can also have your current income driven plan recalculated if your income or hours have dropped recently.