To speak with a licensed agent

(248) 761-2667

6960 Orchard Lake Rd, Suite 200

West Bloomfield MI, 48322

a

MENU

a

Request Your Medicare Quote

Contact Us For a Complimentary Consultation

M

EXIT

M

About Alan Trotsky

Medicare

Financial Services

Events & Seminars

Contact Alan Trotsky

(248) 761-2667

Newsletter Insights

Your Weekly Dose of Diverse Insights

Federal Student Loan Relief

Aug 28, 2021 | Newsletter Posts

How does it work? What should you do?

Are you or someone you know currently making federal student loan payments? In light of the COVID-19 pandemic, some welcome relief may be on the way.

Thanks to the recent passage of the CARES Act, the U.S. Department of Education will allow you to temporarily halt your federal student loan payments from March 13, 2020 until September 30, 2020.1

What should you do next?

At this time, no action is necessary. As part of this relief initiative, all federal student loans will be placed in an administrative forbearance and automatic payments will be paused from March 13 to September 30, 2020.

What about the interest?

Good news! During this same time period, interest rates are being set to 0% on the following types of federal student loans:2

Defaulted and non-defaulted Direct Loans
Defaulted and non-defaulted FFEL Program loans
Federal Perkins Loans

What if I want to keep making payments?

It’s important to keep in mind that payments are still being accepted during this time period, but they won’t be automatic or required. Depending on your situation and goals, continuing to pay down your federal student loans may make sense, even during this challenging time.

This material was prepared by MarketingPro, Inc., and does not necessarily represent the views of the presenting party, nor their affiliates. This information has been derived from sources believed to be accurate. Please note – investing involves risk, and past performance is no guarantee of future results. The publisher is not engaged in rendering legal, accounting or other professional services. If assistance is needed, the reader is advised to engage the services of a competent professional. This information should not be construed as investment, tax or legal advice and may not be relied on for the purpose of avoiding any Federal tax penalty. This is neither a solicitation nor recommendation to purchase or sell any investment or insurance product or service, and should not be relied upon as such. All indices are unmanaged and are not illustrative of any particular investment.

Citations.

Ed.gov, 2020
Studentaid.gov, 2020

The History and Evolution of Iconic Dishes

The History and Evolution of Iconic Dishes

Food is not just sustenance; it is a window into the rich tapestry of human history and culture. Throughout the centuries, certain dishes have transcended their humble beginnings to become global icons, beloved and recognized by people across continents. These...

read more
How to Spot a Deal That’s Actually Worth It

How to Spot a Deal That’s Actually Worth It

We all love the thrill of a good deal—whether it’s a discounted vacation package, a two-for-one dinner special, or a major appliance on sale. For many pre-retirees and retirees living on a fixed income or simply looking to be more financially mindful, finding true...

read more
How to Start Your Own Art Collection

How to Start Your Own Art Collection

Starting an art collection can be both an exciting and intimidating endeavor. For those new to the world of art, the sheer variety of styles, mediums, and artists available can feel overwhelming. However, collecting art is not just about purchasing beautiful...

read more