On December 11, 2020, the Department of Education updated some legal rules regarding federal student financial aid programs under the Higher Education Relief Opportunities for Students Act of 2003 (HEROES Act). This document corrects the date for which some of these waivers and changes are valid, extending them until January 31, 2021. These amendments ensure that students will not accrue interest or be required to make payments on certain loans during this extended period. Additionally, the document provides information on how individuals with disabilities can request this document in accessible formats.
Simple Explanation
The Department of Education made changes to some student loan rules, letting students skip paying interest or making payments until the end of January 2021, just like a mini vacation for their loans.