In late March, the Coronavirus Aid, Relief, and Economic Security (CARES) Act was signed into law.
Many of the important changes affect physicians with student loans, according to Medical Economics’ recent interview with Andrew Musbach, C.F.P., co-founder and financial advisor with MD Wealth Management, LLC, in Chelsea, Mich.
The conversation highlighted many changes that physicians with student loans should be aware of, including the suspension of all federal direct loan payments until September 30, 2020. The CARES Act also set a 0% interest rate, so nothing is accruing on them.
For details on this suspension, more information about the Public Service Loan Forgiveness, and what to do if private loans are affecting your cash flow, read the full article here.