Millions of Federal Student Loan Borrowers Don’t Have To Make Payments

With unemployment levels soaring this year due to coronavirus shutdowns, many people with student loan debt were concerned about how they would make monthly payments. The CARES Act, that big stimulus bill that was passed back in March, helped by automatically deferring monthly payments on direct federal student loans, and setting federal loan interest rates to 0%. Erika Wheless checked in on some folks who benefitted from the loan deferments about what it’s been like without the payments, and what they’ve been able to purchase instead.

Music Credit: Creative Commons Music is Second Nature by Jason Shaw on Audionautix.com
Photo Credit: Katy Ryan
Reporting by Erika Wheless