Good news : Federal student loan payments and interest suspended through September 2020

I had to count to 10 before I replied. Maybe I better make it 50........

I hope that anyone with debt ( a student loan) that can afford to make payments will continue to do so or save what money they can from their budgets to pay what they can. It is never a good idea to skip payments. Accelerating paying off debts, now that is a good idea.

Yeah the idea is to pay off what is usually higher interest credit card debt while your student loan is frozen. In my case I will save towards a down payment on a house.

I'm curious, will this be like the mortgage extensions some banks are doing? Where they let you skip a few months then tack it on at the end so in effect you have a longer note and you pay more interest? Not saying that's bad, just pointing it out.

Yes - it all sounds like a gimmick to fool you into thinking they’re temporarily letting you off the hook.

Sounds a lot like the airlines’ attempt to sound like they’re being friend by waiving the change that dubious change fee. But what they don’t so openly advertise to you is that if you snagged a great airfare and you now decide to change (for free) you’ll NOT be allowed to keep the great airfare you originally had.

Not a gimmick, there are simply a lot of people with federal government student loans currently unemployed eligible for unemployment benefits. The debt and the interest is frozen til 9/2020 but you can continue to pay if you have it

Personally, I think it's great. Especially if the interest is frozen.

Yes the interest on Federal Student Loans are always fixed at about 6% for the 10 years they give you to pay them.