JACKSONVILLE, Fla. – The Coronavirus Aid, Relief, and Economic Security (CARES) Act aims to provides relief from the unprecedented issues created by the coronavirus pandemic. Included in the many components of this $2 trillion package is a six-month relief for student borrowers. The CARES Act suspended loan payments and accumulating interest through September 30 for borrowers of federal loans. No action is required for the payment to be suspended The federal loan provider will automatically take care of it. If someone contacts you about paying a fee to suspend your loans, do not fall for it, it’s a scam.