President Trump or Education Secretary Betsy DeVos could try to bridge the gap between December 31, 2020 and January 20, 2021 by further extending the CARES Act’s moratorium on student loan payments and interest for another month or more. But will they? In August, President Trump strongly suggested that he would, and that we would know at around this time… This timeframe makes sense, as student loan servicers would need sufficient lead time prior to December 31 to stop payment and billing notices from being generated and sent to borrowers. Conversely, it would be much more difficult for student loan servicers to manage the whiplash of millions of borrowers entering repayment, then re-entering a payment suspension, all within a few weeks. But so far, President Trump has not given any indication that he intends to follow through with his promise that he made in August.

Read full article [here].
by Adam S. Minsky, Esq., Forbes.

Posted: November 30th, 2020, by: admin. Categories: . Awaiting Comments.