During the White House press briefing on Thursday of this week, President Trump announced that student loan payments will be waived for 6 months and maybe longer depending on how the Coronavirus pandemic plays out. This comes as welcome news to individuals who are greatly affected and stressed during this tough economic time of layoffs and uncertainty. In the last month give or take, the unemployment rate has skyrocketed and there have been roughly 17 million people in this country that have applied for unemployment. With that, as most can imagine, it can be very challenging to pay essential bills like food, electricity, water, etc. let alone your student loan payment with being unemployed so this comes as positive news from the President for many former students out there.
This is great news to me as I am someone who has student loan debt and I have to pay it back on a monthly basis. While yes, I still have a job and I do plan on continuing to pay towards my debt, I appreciate the waiving of the interest rates to 0% right now. It takes the stress off a little and gives me and others an opportunity to pay towards their principal more so without having to pay all that interest so I'll actually be taking advantage of it! Thank you President Trump!
-Producer Lightning