The Department of Education suspends interest on federally held student loans

VICTORIA, Texas – The Trump administration announced relief for those with federal student loans amid the economic repercussions of COVID-19.

The Department of Education says interest on federally-held student loans will be waived for 60 days. Borrowers will also have the option to suspend their payments for at least two months.

Education Department Secretary, Betsy Devos, says the decision allows borrowers to be “focused on staying safe and healthy. Borrowers are asked to contact their loan provider to request the forbearance.”