The Coronavirus Aid, Relief and Economic Security (CARES Act) includes provisions to help some borrowers who may be struggling to pay back their federal student loans. That includes automatically suspending both principal and interest payments through the end of September.
But, while that applies to the majority of federal student loans, it doesn’t include all of them, and also doesn’t apply to private loans.
Betsy Mayotte, president of the Institute of Student Loan Advisors, joined The Show to talk about what options borrowers have and what the impact the pandemic might have on student debt overall. She talked about how she believes the pandemic has affected student debt crisis.
