Coronavirus Cash Crisis: Should I Keep Paying My Student Loans?

The video discusses the flexibility of federally backed student loans, allowing payments to be delayed until September 30th. It contrasts this with private and other non-federally backed loans, which have not been paused. The speaker advises contacting lenders or loan servicers for financial relief options if your loans are not paused.

What is one benefit of federally backed student loans mentioned in the video?

• They do not require a credit check.

• They are easier to obtain.

• They have lower interest rates.

• They offer payment flexibility until September 30th.

Which types of loans have not been paused according to the video?

• Federally backed loans

• Loans held by banks and credit unions

• Government grants

• Scholarships

Which of the following is NOT mentioned as a type of loan that hasn't been paused?

• Credit union loans

• Federally backed loans

• Loans held by banks

• Private student loans

What should borrowers do if their loans have not been paused?

• Apply for a new loan

• Wait for automatic relief

• Contact their lender for options

• Ignore the payments

What is the first step recommended for those whose loans haven't been paused?

• Contact the loan servicer

• Seek legal advice

• Refinance the loan

• Apply for a deferment