Why 2020 Is Different for Student Loan Payments

Why 2020 Is Different for Student Loan Payments

The Coronavirus OutbreakliveLatest UpdatesMaps and CasesVaccine TrackerAnswers to Your Questionsyour money adviserRecent graduates usually have to start repaying in November. But because of the pandemic, payments on most federal loans have been suspended until January.Credit...Brian BritiganBy Ann CarrnsSpring college graduates typically begin repaying their student loans in November. But this year, things are different.Most federal student loans come with a six-month grace period before new graduates have to start making payments on their college debt. Because of the pandemic, however, repayment of most types of federal loans has been automatically suspended until the end of the year.That means recent graduates won't have to start making payments until January, unless the government extends the payment “pause.”Advocates for student loan borrowers say a delay beyond January is needed. But it's uncertain if