CARES Act update

Here is an update on the student loan relief program.

BORROWERS FROM THE FEDERALSTUDENT LOAN SYSTEM CANRECEIVE EXPANDED RELIEF UNTILSEPT 30, 2020.

9 ON YOURSIDE'S TAJA DAVIS SPOKE WITH AFINANCIAL ADVISOR WHOHIGHLIGHTS SOME KEY FEATURESTO KNOW.

0-9 9-21 21 - ENDALL STUDENT LOAN PAYMENTS --HAVE BEEN PUT ON HOLD UNTILTHE END OF SEPTEMBER.

ANDSUBSEQUENTLY -- THERE IS ANINTEREST RATE -- OF ZERO.TIANA RONSTADT, POWER WOMENINVESTING "THAT MEANS THATBALANCE IS GOING TO BE THESAME WHEN IT WAS ON MARCH 30AS IT IS ON SEPTEMBER 30TH.

SOANY PAYMENTS THAT YOU CAN MAKEDURING THIS TIME PERIOD, WOULDGO DIRECTLY TOWARD YOURPRINCIPAL." SO IF YOU HAVE THEOPPORTUNITY TO MAKE PAYMENTSNOW -- THAT'S A WIN.

THE CARESACT ALSO GIVES YOUR EMPLOYER-- THE OPPORTUNITY TOCONTRIBUTE UP TO 5-THOUSAND-2-HUNDRED-50 DOLLARS ON YOURBEHALF -- TOWARD YOUR STUDENTLOANS -- WITHOUT ANY TAXIMPLICATIONS TO YOU.

TIANARONSTADT, POWER WOMENINVESTING "WHAT THAT MEANS IS,THAT HYPOTHETICALLY, INSTEADOF ME RECEIVING INCOME FROM MYEMPLOYERS AND THEN TURNINGAROUND AND PAYING OFF MYSTUDENT LOAN, WE'LL THERE'STAXES INVOLVED IN THAT WHOLEFLOW OF MONEY.

THIS IS YOUREMPLOYER COULD ACTUALLY PAYDOWN PORTION OF YOUR STUDENTLOANS FOR THAT 5,250 CAP."THIS RELIEF THROUGH ANEMPLOYER -- IS VALID THROUGHDECEMBER 31ST, 2020.

NOWEMPLOYERS WERE ALWAYS ABLE TOCONTRIBUTE TOWARD YOUR STUDENTLOANS -- BUT THERE IS A REASONWHY (THIS COULD BE A BENEFITTO YOU... TIANA RONSTADT,POWER WOMEN INVESTING "ITSBEEN WHERE ITS A PASSTHROUGH, AND SO WHAT THISLEGISLATION ALLOWS US TO DO ISOR THE EMPLOYER IT ELIMINATESTHAT PASS THROUGH AND ALLOWSUS AS AN EMPLOYERS TOPOTENTIALLY HELP AN EMPLOYEEPAY OFF THAT STUDENT LOAN,OBVIOUSLY, A LITTLE FASTER."THAT WAS TAJA DAVIS REPORTING.AS A REMINDER -- THIS ISLEGISLATION -- MEANING -- THISWILL NOT AFFECT YOUR CREDITAND IT WON'T COUNT AS A"BREAK" IN LOAN FORGIVENESSPROGRAMS. IF YOU'RE UNSURE HOWTO CONTACT YOUR LOAN SERVICERFOR MORE INFORMATION -- YOUCAN VISIT THE WEBSITE ON YOURSCREEN OR CALL1-800-4-FED-AID.