Trump order gives 35 million student loan borrowers a break until 2021. What we know so far – CNBC

Trump’s executive order has already been called unconstitutional, and higher-education expert Mark Kantrowitz said he believes the president doesn’t have the legal authority to implement a payment pause and interest waiver for borrowers.

Still, he said, “it’s unlikely that anybody is going to objectto the executive order with regard to the student loan provisions.”

The payment pause, like the one in the CARES Act, is expected to be automatic. That means you shouldn’t have to call your servicer and ask that your loans be put on hold.