If you borrowed money to attend college, you most likely won’t feel any impact from the Federal Reserve’s interest rate cut.

The U.S. economy lost 701,000 jobs in March, snapping a decade-long record of employment growth, as strict measures to contain the coronavirus pandemic shuttered businesses and forced Americans to stay at home.

Futures contracts tied to the major U.S. stock indexes pointed to a lower start to Friday’s session, leaving Wall Street on track for modest weekly losses.

The torrent of Americans filing for unemployment insurance continued last week as more than 6.6 million new claims were filed, the Labor Department reported Thursday.

U.S. stock futures jumped after a surge in the price of oil, a financial market which has collapsed this year and raised concerns about hefty losses for the energy industry.

Stocks ended sharply lower Wednesday as Wall Street kicked off the second quarter on a sour note amid concerns the coronavirus will keep the economy shut down longer than expected.