An ambulance sits outside the US Capitol in Washington, DC, March 23, 2020, as the Senate continues negotiations on a relief package in response to the outbreak of COVID-19, known as the coronavirus.
Saul Loeb | AFP | Getty Images
The historic stimulus package Congress is expected to pass would grant the millions of Americans with federal student loans a break from their payments for at least six months.
Based on language in the $2 trillion bill, which passed in the Senate unanimously, 96-0, on Wednesday and next goes to the House, federal student loan borrowers wouldn’t have to make a payment toward their debt until this October. Any interest that accrues during the suspension will be waived. And even if a borrower isn’t making payments during the reprieve, the time will still count toward the government’s forgiveness programs, if he or she is pursuing one, such as public service loan forgiveness.
The six-month break is automatic, meaning borrowers won’t need to contact their student…
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