It's my pleasure to welcome you here to the Clark Howard Show where it's all about you

and that quality yours.

I want you to learn ideas to me so you can keep more of what you have.

I think one of the most difficult to answer questions we've had throughout this year

has been from student loan borrowers.

As is so often the case, people who have a number of student loans aren't always aware

of what kind of loans they have and what conditions come with them.

And a lot of people have a combination of both federal loans and private loans.

And the distinction between the two is gigantic.

So through this year, if you have federal student loans, you will certainly are aware that

you have been allowed to not make payments and still be considered to be on time through

the end of the year.

And if you were in a public service loan forgiveness cycle, your months of non-payments count as

months of loan forgiveness.

If you have private loans, whole different story.

Every private loan lender is able to handle the difficulties people may have had because

the pandemic, however they wish.

And those loans generally, the payments have to continue to be made.

And even if they make any deal with you forbearance, it doesn't mean that you avoid the interest

through those months and that you're going to have to pay them.

So the good news is almost all borrowing on student loans is in the federal program.

It's generally people with professional degrees who have the lion's share of the very difficult

...