Extending Student Loan Repayment Pause Additional 90 Days
Federal Educational Loan pause extended again (December 22, 2021)
It's almost like Forest Gump saying, "The federal government extended the Educational Loan pause, AGAIN."
The COVID-19 emergency relief for federal student loans was supposed to end Jan. 31, 2022, however the federal government extended the loan pause through May 1, 2022.
Here is what this means.
If your student is a current freshman college student 2021-2022, no interest and no payments are required. Then after May 1, the loans may come due. And I say “may” because there is a possibility the federal government may extend the pause even beyond May 1, 2022. There is even talk of some federal educational loan forgiveness. Nothing is set or signed regarding federal educational loan forgiveness. I will keep my eyes and ears open and let you know if/when any new information comes out.
For current college students and graduated college students with federal educational loans, no interest and no payments are required until May 1, 2022.
This is a nice Christmas gift for those who have federal educational loans including the federal student loans and federal parent PLUS loan. No payments and no interest during this pause period.
It might be prudent to take out these federal student loans. Each family and each student needs to be looked at individually to create the best aid package strategy.
Do you need help with creating a college financial aid plan with or without student loans, please give us a call 1-888-237-2087 x2
Life is like a box of chocolates. You never know what you're gonna get. And when you get an extension on the federal educational loans, you take it.
Do you need help with creating a college financial aid plan with or without student loans, please give us a call 1-888-237-2087 x2
