President Donald Trump last week announced a student loan interest waiver -- but the policy change would do little to immediately help those struggling to pay their bills because of the coronavirus pandemic.
A waiver would stop interest from adding up, and that could eventually reduce the overall amount owed over the lifetime of the loan. But it won't immediately lower the amount a borrower owes each month, unless the servicers are told to recalculate each monthly payment -- which is usually divided between paying down the principal and the interest.
