(CNBC) — On August 8, President Donald Trump signed a memorandum ordering Secretary of Education Betsy DeVos to extend student loan relief policies included in the CARES Act that were scheduled to expire on September 30th, through the end of December.
On Friday, August 21, DeVos implemented the measure, providing student loan borrowers with an additional three months of relief.
The CARES Act, passed on March 27, paused federal student loan payments and temporarily set the federal student loan interest rate to 0%.
