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Donald Trump Announces He Is Waving Federal Student Loan Interest Indefinitely Due To Coronavirus

Donald Trump Announces He Is Waving Federal Student Loan Interest Indefinitely Due To Coronavirus 7

Roommates, as part of Donald Trump’s many coronavirus announcements, he has also decided to ease the burden of some of the nations college students.

According to CNN, Trump announced. that he will be waving interest on federal student loans, as colleges and universities have stopped on-campus instruction for the remainder of the year.

“I’ve waved interest on all student loans held by federal government agencies, and that will be until further notice,” Trump said. A Department of Education spokesperson said that any borrower with a federal loan will have interest waived until the temporary policy ends.  As of now, Trump has no specific period of time that the policy will be in place.

The spokesperson reportedly said the interest will be waived automatically, and will reflect on student accounts sometime in the next week.

The news came during Trump’s press conference Friday, where he also announced that he was declaring a national emergency and giving additional funding to causes in relation to the virus.

He also announced all emergency orders will be sent to Alex Azar who will be able to “waive provisions of applicable laws and regulations to give doctors, hospitals–all hospitals–and health care providers maximum flexibility to respond to the virus,” Trump added.

 


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