 TITLE: Student Loan Borrowers Get Extended Relief Under New Provisions CONTENT: How Does the Executive Order Impact Student Loan Borrowers?\n-----------------------------------------------------------\nThe executive order signed on January 20, 2021, extends the protections and benefits that the CARES Act put into place in early 2020:\n*   Pauses student loan payments\n*   Pauses collections on defaulted student loans\n*   Temporarily lowers interest rates to 0%\nThese protections were originally set to expire on September 30, 2020, but two extensions had pushed that date to January 31, 2021. President Biden's executive order further extends them through at least January 31, 2022.\nYou don't need to do anything to qualify for the extensions—they're automatic.\nAs was previously the case, the suspended monthly payments could still count toward Public Service Loan Forgiveness (PSLF). However, you do need to meet the other requirements, including working full time at a qualifying employer.\nSuspended payments can also count toward rehabilitating a defaulted student loan, which usually requires making nine on-time monthly payments. Although collection actions have been paused, this could present an opportunity to get your student loans out of default and help prevent collection actions in the future. END