Now that there has been a waiver of interest accruing on federal student loans, now is the time to make extra payments (only if your financial standing allows so). The reason this is important is because the payment you are making, plus the extra amount you are able to pay, goes directly to principle which allows you to lower the overall amount in the long run. Although we were hoping for the halt of all student loan payments, waiving interest is also helpful in that it allows you to reduce the your overall federal student loan debt/balance in the long run.
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