As the world continues to deal with the impact of the coronavirus, the U.S. Department of Education announced that all student loan payments and interest rates will temporarily be suspended for at least 60 days.
In addition to suspending payments, President Donald Trump announced that there will be no K-12 standardized testing.
“We have temporarily waived all interest on federally held student loans. They will be very happy to hear that, and I have instructed them to take that action immediately,” Trump said.
“Today, [Education] Secretary [Betsy] Devos has directed federal lenders to allow borrowers to suspend their student loans and loan payments without penalty for at least the next 60 days, and if we need that, we will extend that.”
BREAKING: "All borrowers with federally held student loans will automatically have their interest rates set to 0% for a period of at least 60 days." May also request to suspend payments for at least two months. #fachat pic.twitter.com/ko284TuybL
— Allie Bidwell Arcese (@alliebidwell) March 20, 2020
The coronavirus outbreak has led to the cancellation or postponing of many large events including the NCAA Tournament, Coachella, SXSW, the Winter X Games, Stagecoach, Ultra Music Festival in Miami, and more. The NBA, NHL, and MLS have temporarily suspended their seasons.
The coronavirus mainly comes from animals and a majority of those who were infected early either worked at or frequently visited the Huanan seafood wholesale market in Wuhan, according to The Guardian. The virus is similar to Severe acute respiratory syndrome (Sars) and Middle Eastern respiratory syndrome (Mers).
The Wuhan coronavirus is transmitted from person to person through “droplet transmission.” That means an infected person can pass the virus by sneezing or coughing on another person as well as by direct contact.
While a majority of the cases have been detected in China, it has now reached many countries around the world including the United States. It has also been confirmed in Italy, Australia, Canada, France, Germany, and many other eastern countries.