Coronavirus California: Governor halts student loan payments for many for 90 days
FRESNO, Calif. (KFSN) -- California Governor Gavin Newsom announced 21 out of the 24 major student loan providers in California have placed a moratorium on payments for the next 90 days to help those with debt during the coronavirus pandemic.
The forbearance will support more than 1.1 million Californians with student loan debt without affecting their credit or late fees.
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Newsom said the companies will also work to adjust payment plans for those with student loans after the 90 days.
The list of loan servicers was not immediately available.
The governor also signed an executive order to stop loan servicers from collecting debtors' economic relief checks provided by the federal CARES Act.
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The executive order does not protect those who owe child or spousal care or own money to a victim's account.
This is a developing story.
