Stimulus News Student Loans

The latest stimulus package gives companies a tax incentive to pay off their employees student loans.

Stimulus news student loans. Use your 600 stimulus check to pay off student loans. Biden s stimulus plan doesn t mention student loan forgiveness. House democrats had previously passed stimulus legislation in may providing for an extension of the current moratorium on student loan payments to september 2021 as well as 10 000 in student.

President elect joe biden photo by mario tama getty images getty images. The cares act. Despite the bad news for student loan borrowers president elect biden could still further extend the moratorium on student loan payments interest.

Under the cares act the 2 2 trillion stimulus package that congress passed in march there is a tax incentive for employers to help their employees with student loan repayment. Senior officials of the incoming biden administration say. Two weeks ago a new stimulus package proposal would have extended student loan relief through april 30 2021.

Administration officials say the president elect still supports the move. Biden could still extend student loan relief. 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.

Here s what you need to know. Joe biden plans to continue the pause on federal student loan payments and accumulating interest but ask congress to pass student loan forgiveness. The idea of 2 000 stimulus checks is potentially bad news for student loan forgiveness.

Democrats have long pushed for an extension of the current pauses through september 2021 as well as student loan forgiveness and trump himself paused federal student loan payments for one more month via an executive order.