Trump: I’m Waiving Interest On Student Loans

[GigiBronz]

Excuse me for messing up the economy again while you don’t have any assets or even money to buy overpriced food while being quarantined in someone else’s overpriced box and expected to pay rent in full and on time. That type of money?

[AtW]

Strange move - how would it even help the group that appears to be less likely hit? It’s their parents who got the problem

[scooterscot]

If there was not enough evidence already... this is a cherry. The virus is being used as an excuse to crash the market big. Us student debt after auto debt is huge in the US. Too many students went to uni, like the UK, and drowned themselves in debt.

Imagine the banks holding on to all the debt being told no more maturity on that debt boys. Yeah, I'm sure the markets will be fine on Monday... nothing to see here.

In an effort to mitigate the economic impact of coronavirus for every day Americans, Trump said he will waive interest on all federal student loans held by the federal government agencies. This emergency executive action comes hours after Treasury Secretary Steve Mnuchin told CNBC that temporary suspension of interest on student loans was “one of 50 different items we’re bringing to the president for a decision.” The details, including the mechanics, timing and duration, should be forthcoming.

Earlier this week, Senate Democrats proposed payment forbearance for six months on federally insured or guaranteed mortgages and federal student loans. Rep. Alexandria Ocasio-Cortez (D-NY) tweeted yesterday that student loan payments should be paused. The goal is to help borrowers from “incurring additional fees, compounding interest or negative incidents reflected in their credit scores.”


The coronavirus may continue to have a significant impact on the economy, including adverse impact to individuals, small businesses and corporations. With the potential for increased health care costs and possible job losses, Americans may start to feel the financial pinch from the coronavirus. (See What Coronavirus Means For Your Money).

Trump: I’m Waiving Interest On Student Loans