“The CARES ACT” was passed by Congress and signed into law by President Trump on
March 27, 2020, to help support the economy, businesses, and everyone in the country suffering the Coronavirus Pandemic’s effects. The law included no student loan payments and no interest applied to loans until September 2020. In September, President Trump extended it until January 31, 2021. This year, President Biden signed an executive order also extending no payments or interest until September 2021. This takes some pressure off students who owe money on their loans.