SoFi Blog

In part 2 of this series, we go over making smart money moves during COVID-19 if your cash flow is impacted.

The economic consequences of COVID-19 have been particularly devastating for small businesses. Read on to learn how these companies can get some financial relief.

Wondering how much to expect from the coronavirus stimulus check—or whether or not you’re even eligible? Here’s what goes into the calculation.

How is COVID-19 impacting college students and the admissions process? SoFi has partnered with Edmit to provide information to high school students, current college students, and college graduates.

This article contains breaking news and events related to the current state of politics and the economy. While we try our best to keep our articles as up-to-date as possible, the ongoing effects of COVID-19 are happening in real time and information is subject to change.

On March 20, 2020, President Donald Trump announced that the U.S. government will be temporarily suspending payments on federal student loans. This comes after the president’s announcement last week that the government would be temporarily waiving interest payments on federal student loans .

U.S. Secretary of Education, Betsy DeVos, was quoted in a statement as saying the following:

“These are anxious times, particularly for students and families whose educations, careers, and lives have been disrupted. Right now, everyone should be focused on staying safe and healthy, not worrying about their student loan balance growing. I commend President Trump for his quick action on this issue, and I hope it provides meaningful help and peace of mind to those in need.”

The payment pause is for a minimum of 60 days, retroactively going back to March 13, 2020. More details will likely be provided as this story continues to unfold, including whether this pause will be extended past the initial 60-day timeframe.