Amid the dangerous information piling up from COVID-19, one optimistic improvement emerged on Friday: Curiosity on federal pupil loans could be waived till additional discover. 

That is by no means occurred earlier than and is an acknowledgment by the federal government of how tightly this pandemic might squeeze Individuals' funds. Over the past decade, the common rate of interest on federal pupil loans has been round 5.5%, in keeping with larger training professional Mark Kantrowitz. In the meantime, the standard month-to-month pupil mortgage invoice is near $400. 

As of noon Monday, it appeared lenders had been nonetheless ready on the federal government for directions on find out how to roll out the unprecedented coverage. (The U.S. Division of Training's federal pupil loans are serviced by some 9 totally different corporations.)

"Servicers are prepared to start the implementation course of as quickly as we now have steering from the Division of Training on the specifics and necessities of the...