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Interest Waived on Federally Owned Student Loans and Payments Suspended for 60 Days: Trump

President Trump said all interest on federally owned student loans will be temporarily waived and payments will be suspended for 60 days.

President Donald Trump touted a series of measures Friday that will impact the lives of students throughout the U.S. as education and the economy has been devastated by the coronavirus pandemic. 

“The Department of Education will not enforce standardized testing requirements, very importantly, for students in elementary through high school for the current year,” Trump said. “They’ve been through a lot.” 

“I think probably a lot of the students will be extremely happy,” Trump added. “Some probably not. The ones that work hard, maybe not, but it's one of those things.”

He then quickly turned to changes for college students, who have also seen their way of life drastically changed by the pandemic. 

“We’ve also temporarily waved all interest on federally held student loans,” Trump said. “Today [Education] Secretary Devos has directed federal lenders to allow borrowers to suspend their student loans and loan payments without penalty for at least the next 60 days and if we need more we'll extend that period of time.”

Trump also promised “we have more to come on student loans, more good news for the students. But we’ll do that at a different time.”

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Hunter Woodall

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