Urgent Student Loan Changes in a Nutshell

Student loan deferrals are happening, in many cases automatically! Here’s the details, but the tldr; is that loans are at 0% and you may stop paying through September 30.

Each individual lender is treating this somewhat differently about whether they’ve stopped automatic payments.

It’s a very good idea to stop your automatic payment when you’re being offered a 0% loan. Some people – those who are eligible for loan forgiveness – will just be paying principle for no reason if they don’t stop their payments!

On the other hand, some people will prefer to keep paying even if it’s at 0%, as the principle payments will go farther. They may be irked to discover their automatic payments were turned off.

In either case, I recommend you go login and adjust accordingly.  Here’s a quick assortment of loan links: