U.S. President Donald Trump addresses the nation on the COVID-19 coronavirus pandemic from the Oval Office at the White House on Wednesday, March 11, 2020 in Washington, D.C. 

President Donald Trump announced on March 14 that he will waive interest on student loans for an indefinite amount of time due to the spread out COVID-19, otherwise known as the coronavirus.

This new measure followed Trump's declaration of a national emergency due to the spread of the virus. He said student loans held by federal government agencies will be waived until further notice.

“I've waived interest on all student loans held by federal government agencies...until further notice," Trump said.

With a shift from in-person to online classes happening around the country, Trump said at the conference he hopes that the waiving of interest on student loans will help students who are in a difficult situation due to the closing of campuses.

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