Trump order gives 35 million student loan borrowers a break until 2021. What we know so far investinyou (In partnership with acorns.)
said he believes the president doesn't have the legal authority to implement a payment pause and interest waiver for borrowers.
Still, he said, "it's unlikely that anybody is going to object to the executive order with regard to the student loan provisions." The payment pause, like the one in the CARES Act, is expected to be automatic. That means you shouldn't have to call your servicer and ask that your loans be put on hold.Will SealyIt's not yet clear if the missed months will still count as payments for those enrolled in income-driven repayment plans or the public service loan forgiveness program.
"Send your request via multiple channels, like phone, email or social media," he added. "Always be sure to get resolutions in writing in case you need to have them for the future."
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