by Jeff Sovern
Yesterday, as part of his response to the coronavirus, President Trump announced that he was temporarily waiving "interest on all student loans held by federal government agencies." According to the NY Times, monthly payments won't change. Instead, the monthly payments will go to reducing the principal, which will ultimately reduce the amount students owe. Consequently, borrowers might not experience any immediate benefits from the waiver, but it will help them down the road. Forbes has more here. I'm not sure what this has to do with defeating the coronavirus, but I'm sure student loan borrowers will be grateful. One caveat: I don't know where the Times and Forbes got their information.
