"The Trump administration Friday moved to waive federal requirements for standardized tests for students in kindergarten through 12th grade and gave borrowers with student loans the option of suspending payments, actions taken in response to the coronavirus pandemic," The Washington Post reports.
"... People in public service jobs will have to think twice about postponing their payments. Opting out for two months will result in a longer path to debt cancellation for those working toward Public Service Loan Forgiveness. The federal program cancels the remaining balance of a borrower’s debt after 120 on-time monthly payments, but postponing the bill will lengthen the process.
'We do not want covid-19 disruptions to penalize borrowers who are on a pathway towards [Public Service Loan Forgiveness] or [income-based] forgiveness. But it’s pretty clear that the administration has gone as far as they can go, or are willing to go,” said Justin Draeger, president of the National Association of Student Financial Aid Administrators. 'So our attention is now turning towards Congress for further student borrower help.'"
NASFAA's "Notable Headlines" section highlights media coverage of financial aid to help members stay up to date with the latest news. Articles included under the notable headlines section are not written by NASFAA, but rather by external sources. Inclusion in Today's News does not imply endorsement of the material or guarantee the accuracy of information presented.
Publication Date: 3/20/2020