Both my kids were told they did not have to pay their loans now. They are not accruing interest. They are either saving it, or paying down other debt.
If you gave me “free” money, I would pay it down last as well.
Heck, the forbearance was automatic for my wife and I, so why not use it? It is letting us give more to help out tight political races and to invest.
How many people refused their $1,200 stimulus check?
I guess the idiot liberals at CNBC didn’t hear that there is no interest being assessed on government student loans right now. All loans are in forbearance until 1 January 2021 or beyond.
While we’re at it, how many are paying the rent? I know too many landlords who are getting shafted these days. Some with one tenant, some with more than fifty.
When I checked on the PLUS loans for my son and found it to be in forebearance, I set it back up to make payments. 100% of same payment is going to principal. If interest is held off after 2020, we will keep it up.
Said son graduated from a nursing program in May. He is working weekends and pulling any on call shifts he can get.
He is chunking down now that interest isn’t being charged.
call that MOTIVATED.
>>Recently, Elder, who works in criminal justice reform at a political organization, became the owner of a two-bedroom condominium in Washington, D.C., thanks to a first-time homebuyer program in the city.
So, she complains about her level of debt, but then goes into even more debt by buying a pricey condo in D.C.
And if her career is “criminal justice reform”, I imagine she squandered her student loans on a worthless “grievance studies” degree.
I told my wife this is the ideal time to continue paying her student loans since the interest was not accruing.
We have a fed-loan for my daughter. I have been making double payments since March because the the loan is currently interest free. In the long run this will give us an easier shorter repayment. Great opportunity!
Most people, if their bank said you don’t have to make payments this year, wouldn’t make payments.
This is NOT surprising.