The Coronavirus Aid, Relief, and Economic Security (CARES) Act passed Congress last week to address many of the issues created by the coronavirus. President Trump quickly signed the bill into law on Friday night. Included in the $2 trillion package is six months of relief for most student borrowers. Their loan payments are suspended—interest-free—through September 30, 2020. And for borrowers seeking forgiveness under the Public Service Loan Forgiveness (PSLF) program or income-drive repayment (IDR), those non-payments would count as though they had been made before the crisis.
Best Regards,
Lillian Wong
Sr. Mortgage Advisor
NMLS 630337
NEXA Mortgage
2450 S Gilbert Rd #210
Chandler AZ 85286
480.650.5412
www.lillianwong.net
lwong@nexamortgage.com
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