The US Department of Education has again extended the COVID-19 Emergency Relief and Federal Student Aid Program through August 31, 2022.
The Financial Coach at Capital Budget Strategies, LLC, Austin’s best Financial Coach, highly recommends that if you have Federal student loans, start paying them immediately! The benefit of the program is the 0% interest, meaning 100% of your payments will go directly to your principal, instead of principal and interest.
The Program allows for a suspension of loan payments, 0% interest and stops collections on defaulted loans. However, you can still make payments!
Our Austin Money Coach advises you to contact your loan servicer and tell them you want to initiate payments again. Then start pouring whatever extra cash you have into your account. By August 31, you could knock out a big chunk of your principle.
There will NEVER be a better time to pay your federal student loans than right now. Our Austin Financial Coach hopes you take advantage of it!
If you have questions or want to conduct a full financial review and create a personalized Monthly Budget, Emergency Fund and a Snowball Credit Card Repayment Plan, contact Capital Budget Strategies, LLC.
Check out our 24 5-Star Google reviews!
Question or Comment? Enter it below.