The Trump administration also announced that it is setting federal student loan interest at zero for the next 60 days and will let borrowers request to suspend their payments for two months.
WASHINGTON — Students will not have to take standardized tests this year, and interest rates on federally held student loans will be 0% for the next 60 days due to the“With many schools closed due to the virus, the Department of Education will not enforce standardized testing requirements, very importantly, for students in elementary through high school for the current year,” Trump said at hison the coronavirus pandemic. “They’ve been through a lot.
“I’ve instructed them to take that action immediately, and today Secretary [of Education Betsy] DeVos has directed federal lenders to allow borrowers to suspend their student loans and loan payments without penalty for at least the next 60 days.”
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