Due to the COVID-19 pandemic, unemployment rates are on the rise. Luckily, many students benefit from the federal student loan payment suspension program, which defers their payments until September 30th, 2021. However, should you lose your job when that benefit ends, you still have an opportunity to defer your federal student loan payments.
The U.S. unemployment rate rose nationally by 11.2 percentage points between February 2020 and April 2020, from 3.5% to 14.7%. While unemployment has risen throughout the country, compromising job security and savings for so many, some places have seen much larger spikes over that two-months period. SmartAsset looked at the metro areas where unemployment has increased the most during COVID-19.
Eighteen U.S. states owe the federal government over $52 billion in unemployment loans that were taken to aid relief for the COVID-19 pandemic that hit in March 2020, the Associated Press reported.
Can be Wages Or Unemployment Feel Garnished Under COVID-19? The new COVID-19 pandemic try an unprecedented enjoy inside our history. Because of offered stand-at-household requests a number of says, a massive number of people has actually confronted unpaid furloughs, cash advance payday loans Indiana a decrease in reduced doing work era or in some cases