Financial help is available for federal workers impacted by the government shutdown
As the longest government shutdown in U.S. history continues, federal workers are bracing for yet another missed paycheck.
Whether furloughed or still reporting for duty, nearly every federal worker is going without pay — and without any clear timeline for when that next check will arrive.
"I have two kids and a wife at home who can't work due to medical issues, so I'm a single-income household," Charles Jacques previously told CBS News Philadelphia. "This has put an extreme toll on me personally."
Jacques is among more than 100 air traffic controllers at Philadelphia International Airport who are working without pay.
Many say they are struggling to make ends meet. But there are options for financial relief to bridge the gap.
USAA says it's delivered more than $400 million in relief to military servicemembers and federal employees impacted by the shutdown.
Many banks and credit unions are offering relief to unpaid federal employees, like no-interest loans or fee waivers. The American Bankers Association has compiled a non-comprehensive list.
However, the terms of these programs differ widely, according to Adam Rust with the Consumer Federation of America, and it's important to read the fine print.
"It could be that there's a suspension of interest or of payments, but those are two very different things, and then is it the case that it will be a balloon payment when it's time to go back to normal course of business," Rust said. "That's an important thing to ask because you could be facing a pretty large payment at that moment in time."
If you're having trouble making your mortgage payment, you can request a full or partial payment pause with your lender, Rust said. Just be mindful that interest on those payments generally does not pause.
When it comes to other bills, you might be able to enroll in a hardship payment plan with your phone or utility company.
Generally, consumer advocates say you should avoid payday loans or credit card cash advances. Rust said those tend to carry notoriously high interest rates and fees.
A better option might be to consider cash advance apps, like Chime, Dave, or Earn In. These generally charge lower or no fees but should still be used with caution, as there are still costs involved, according to Bankrate.
"It's just important to understand your options," Rust said. "You're facing a hard time, and it's no fault of your own, but the most important thing you can do right now is to make these decisions intentional."
The Federal Employee Education and Assistance Fund has a list of more resources, including state-by-state links to unemployment benefits for federal workers.
