Grasso & Sun: ‘How to Budget During Student Loan Forbearance’

Federally held student loans are currently in forbearance, which means you don’t have to pay anything right now. Even better, the interest is at 0%. Basically if you have a government-backed student loan, your balance isn’t growing. And this hold will last until Sept. 30. But it’s important to remember that this is temporary. On Bold TV and C-Suite, David and Julia discuss how you should budget in this limbo period. If you’re financially able to make payments, don’t stop. In a normal situation, interest eats up part of your hard-earned money. But now, any money you pay to your loan amount will go straight to the principal (total amount you owe). You could end up saving thousands of dollars by continuing to make payments during this period. Learn more on Bold TV and C-Suite.