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VSAC borrowers unable to take advantage of 0% interest

(WCAX)
Published: May. 18, 2020 at 3:16 PM EDT
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There is tons of advice on how to stretch your dollars these days.

One is for college borrowers to pay down their principle. That's because federal loans are waiving all interest payments until September.

We wanted to know if VSAC borrowers could take advantage of that offer-- and the answer is no. Zero percent interest is only available to students who borrow directly from the federal government.

VSAC says right now, more than 16,000 of its borrowers have a Vermont address.

The Winooski-based lender tells us it's working with Vermont's delegation to get similar protections for private loan borrowers.

VSAC says if you have trouble paying your loans, a counselor will work with you. Call 1-800-798-8722.

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