Barring additional suspensions from Congress, student loan payments will resume this fall after a three-year forbearance that began as part of the Coronavirus Aid, Relief, and Economic Security Act. The resumption of payments also includes students who graduated in 2020 and will face their first student loan installments.
While the forbearance allowed borrowers to skip payments, it also set the interest rate on federal student loans to 0%, ensuring that interest did not accrue during the pause. Borrowers should find their previous loan balances waiting for themβa collective $1.64 trillion!
The Gwinnett Daily Post is a daily newspaper published in Gwinnett County, Georgia, and serves as the county's legal organ. The newspaper is owned by Times-Journal Inc. and prints Wednesday and Sunday each week.