Federal Programs That Allow Deferred Loan Payments

For those who own or rent homes or have student loan debt, the federal government offered relief options in response to the Covid-19 pandemic.

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First, the Coronavirus Aid, Relief, and Economic Security Act (CARES Act ) allows eligible homeowners to pause making mortgage payments for up to 180 days.

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Those with an eligible federal student loan are not required to make student loan payments through Aug. 31, 2022.

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Federal Relief for Renters

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Federal forbearance programs can help provide a break from certain payments, but they don’t offer blanket coverage to everyone.

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Federal Programs That Allow Deferred Loan Payments

For those who own or rent homes or have student loan debt, the federal government offered relief options in response to the Covid-19 pandemic.

First, the Coronavirus Aid, Relief, and Economic Security Act (CARES Act ) allows eligible homeowners to pause making mortgage payments for up to 180 days.

Covid-19 Mortgage Forbearance

Those with an eligible federal student loan are not required to make student loan payments through Aug. 31, 2022.

Deferred Payments for Federal Student Loans

Federal Relief for Renters

If a U.S. resident is renting a home versus owning one, they may be able to temporarily stop making rent payments without risking eviction.

Federal forbearance programs can help provide a break from certain payments, but they don’t offer blanket coverage to everyone.

Deferring Payments Outside of Federal Relief

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Finding a financial advisor doesn’t have to be hard. SmartAsset’s free quiz matches you with fiduciary financial advisors in your area or who serve your area. If you are ready to be matched with financial advisors that can help you achieve your financial goals, take the quiz now.

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