Trump extended federal student loan relief — here's what financial experts say you should do if you qualify.
If you do open a balance transfer card, make sure you have a clear debt pay-off plan, so you don't end up back where you started, paying high interest rates on your balance.If you're out of work because of the pandemic, or you're just feeling more financially strained, focus your resources right now on your most urgent necessities and take advantage of your student loans being deferred longer, McClary says.that impact your survival, like housing and utilities.
The proposed extension of deferring student loan payments is only for federal loans, but if you're worried about private student loans, contact your loan servicer to ask for a forbearance period or other options for financial relief. "At the end of the day, each person will need to examine their goals and current financial standing to determine what their next immediate financial priority should be," Ladejobi tells CNBC Select.
Information about Marcus by Goldman Sachs High Yield Online Savings, Ally Online Savings Account, Synchrony Bank High Yield Savings, Citi Simplicity® Card, Aspire Platinum Mastercard®, and U.S. Bank Visa® Platinum Card has been collected independently by CNBC and has not been reviewed or provided by the bank prior to publication.
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