Student loan debt in the U.S. totals more than $1.7 trillion. These types of loans can affect your financial future for years.

SAN ANTONIO – If you lost your source of income or had reduced income because of the ongoing coronavirus pandemic, making payments on your federal student loans may be nearly impossible. The CARES Act gives federal student loan borrowers some relief when it comes to making payments, and most recently, President Donald Trump extended the Sept. 30 end date of the program to Dec. 31. The Federal Trade Commission says if you have qualifying federal student loans, you are not obligated to make a payment until after Dec. 31. The FTC says you don’t need to do anything to enroll in this relief program, but you must make sure your federal student loans are included. Contact your federal loan servicer or visit studentaid.gov to find out if your loans are included.