How to lower your private student loan payments
[img]https://a57.foxnews.com/static.foxbusiness.com/foxbusiness.com/content/uploads/2020/06/931/506/Credible-student-loan-debt-iStock-538983067.jpg?ve=1&tl=1[/img]The federal Coronavirus Aid, Relief and Economic Security (CARES) Act brings financial relief for student loan borrowers, including automatic payments and a reduced rate on student loan interest. But there's a catch: those benefits only apply to eligible federal student loans.
"Unfortunately, the CARES Act does nothing directly for private borrowers," said Tim Stobierski, founder and editor of Student Debt Warriors.
The good news is there are things you can do to make managing private student loan payments (and paying for college in general) during coronavirus easier. If you're finding it more difficult to pay your private student loans because of a coronavirus-related drop in income, consider these loan options.
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