Millions of people with student loans breathed sighs of relief when the stimulus bill known as the CARES Act was signed into law. It suspended both monthly payments and interest accrual on most student loans held by the federal government through September 30, 2020. But for millions of people whose student loans are from private lenders such as Wells Fargo, Sallie Mae, or SoFi, the package, which is intended to alleviate financial pressures caused by the coronavirus pandemic, brings no relief.
‘i Feel Like I’ve Gotten Trapped In This Loan.’ Here’s Why The Covid-19 Stimulus Package Only Helps Some Borrowers
Alana Semuels, Time
Thu, 04/02/2020 - 9:50am
Topics: september sallie mae justin lucas texas state university iowa student loan president trump erin schaff&mdash new york times/bloomberg/getty images president donald trump coronavirus aid relief economic security cares act oval office white house washington seth frotman consumer financial protection bureau on march alexis goldstein wall street one mohela only ldquo;we kate manfred discover student college avenue student pnc navient truist it&rsquo scott buchanan student loan servicing alliance financial andrew winton minnesota&rsquo carlson school management but frotman ldquo;the wild west american education services courtesy mackenzie hammond ldquo;if i hammond&rsquo but hammond a wells fargo now lauren maupin lexington kentucky a sofi house democrats persis yu student loan borrower assistance project national consumer law cares act wells fargo i sofi time lucas lucas lucas university student borrower protection center consumer march borrower protection new york time d.c ldquo;i americans financial financial reform discover loans buchanan covid-19 american education services education mackenzie hammond hattiesburg mississippi southern hammond ldquo;i i&rsquo maupin sofi feel borrowers ve gotten trapped payments federal lenders people company forbearance pause rates monthly rate banks told pay year debt government cases payment contractual suspended offered spokesman amount cut lender closed accrue work students real thousands markets dollars ldquo;there’s good days lot called collapse stop stable lost held works accrual charged department month market programs balance worth bank households contacted spokesperson months don’t granted personal reached comment program mortgage contact money day response emergency paused defaulted hours lack
Welcome to Wopular
Wopular is an
online newspaper rack,
giving you a summary view of the top headlines from the top news sites.
Senh Duong (Founder)
Wopular,
MWB,
RottenTomatoes
MoviesWithButter : Our Sister Site
- "Expendables 4" Starts Shooting This Fall, Says Randy Couture at the Arnold Sports Festival more
- “Expendables 4” Gets Funding Interest from “Ip Man 3” Financier more
- "Ip Man 3" Distributor Suspected of Box Office Fraud, Parent Company Loses $200M in Market Cap more
- Yen Targets "Ip Man 4" for 2018 Release; Discusses Film with Director, Producer more
- "Ip Man 3" Shatters Expectations with $72M Opening [China Box Office] more