Sometimes, you need to suspend your student loan payments for a short period
Are you in a short-term financial bind?
Not at all
What if I don't pay any interest?
If you don't pay that interest, it will be capitalized and added to your principal balance.
Why will that interest be capitalized?
that's because interest accrues on your principal balance, capitalization will cause more interest to accrue over time than if you had paid the interest. It will also increase your monthly payment on most payment plans
How to relieve student loan borrowers during the national COVID-19 emergency?
Federal student loan borrowers are automatically being placed in an administrative forbearance, which allow to temporarily stop making monthly loan payments. This suspension of payments will last from March 13, 2020 through Sept. 30, 2020,but you can still make payments if you choose.
How can I get relief with lower payments on an income-driven repayment plan?