In March 2020, Congress passed the CARES Act, providing a temporary pause on direct federal student loan payments and reducing the interest rate accrual on these loans to zero. This freeze has been extended through May 1, 2022, and there are signs it may be extended further.
Federal loans make up more than 90% of outstanding student debt overall. More than 40 million borrowers owe around $1.6 trillion in federal student loan debt, a sum bigger than credit card or auto debt. These federal student loan borrowers have been spared over $195 billion in loan payments since...
Log in to view this resource
Not Yet a Member?
Join The McGill Advisory with a money-back guarantee
Learn More
Join
Start Your Free 45-Day Trial Membership
Begin increasing your wealth—by saving on taxes, boosting practice profit, conserving what you earn, and ensuring a successful retirement.
Your 45-day free trial entitles you to an 8-page monthly newsletter, plus unlimited online 24/7 access to hundreds of tax reduction, practice management, wealth protection, and retirement planning solutions. No obligation, no credit card.
Free 45-Day Trial Membership
The McGill Advisory content Is provided For informational purposes only And does Not constitute legal, accounting, Or other professional advice.
Copyright © 2023 John K. McGill & Company, Inc.
Personal Finances | Debt Management
White House Announces New Income-Based Student Loan Relief
Read Article
Personal Finances | Debt Management
Student Loan Relief Update
Read Article
Personal Finances | Debt Management
President Biden Announces Student Loan Relief Measures
Read Article
Personal Finances | Debt Management
Student Loan Repayment Holiday Extended
Read Article
Personal Finances | Debt Management
Follow Our 7 Step Debt And Savings Strategy To End Up Over $3,000,000 Wealthier
Read Article
Personal Finances | Debt Management
Four Steps To Take For Student Loan Debt Savings (Online-Only Article)
Read Article
Once you have created your account, click below to refresh this page and access this content.