Loan Forgiveness Stimulus Plan

While the proposal calls for billions of dollars in relief for higher education not included in biden s plan is any student loan forgiveness or other relief for student loan borrowers.

Loan forgiveness stimulus plan. Senior officials of the incoming biden administration say. President trump has offered to forgive some student loan debt as part of a new 1 8 trillion stimulus proposal to house democrats indicating how rapidly the idea of cancelling student debt has. Employers to make tax free payments of up to a maximum of 5 250 per employee between march 27 2020 and december 31 2020.

The new stimulus package includes a 600 stimulus check for each individual taxpayer with an adjusted gross income of 75 000 or less or a. Biden to continue freeze of payments ask congress to erase debt. Your lender should provide you a link to a form soon in the new year.

Both federal student loans and private student loans to be eligible. Biden s stimulus plan doesn t mention student loan forgiveness. If your ppp loan was for 150 000 or less there will be a new simple one page form to apply for forgiveness.

In its massive new pandemic relief and stimulus package congress has significantly modified the paycheck protection program ppp to allow for second draws from the program to simplify the loan forgiveness process to provide restaurants access to greater relief and to extend the program through march 2021.