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Federal student loan interest is .... still accruing?

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  • Federal student loan interest is .... still accruing?

    Very confused here. I know the interest is supposed to have been halted effective 3/13/20, but when I log in to FedLoan (I have all federal loans, fyi) I still have daily accumulating interest. I emailed them but of course, no answer. What's going on? You think they're just back logged updating this? I'm planning to make a payment on 4/1/20 and I want the interest to be reflected correctly so that I can pay more principal.

  • #2
    The same thing is happening to my federal loans as well. I actually spoke with a student loan advisor that my school hired (I'm a graduating MS4) and asked him that exact question. He said that his sources state that the government is planning on a 3 month interest freeze for all federal student loans whether the student is in school or in repayment. He said that likely they will pass the legislation in the "coming weeks" with the obvious caveat that they have a lot going on in DC. Hope that helps.

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    • #3
      My sympathies. Retroactive changes will create a new wave of issues. Suggest keeping a hard copy of your loan status for proof. Government ~loan services~borrowers won’t be smooth.

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      • #4
        I have fedloan as well, and my April payment was $0, with no interest accrued. I did not have to ask for it, as some others have said with other lenders.

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        • #5
          Not all Federal loans are actually federal. Highly recommend finding the NPR what the CARES act means for your student loans.

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