Stimulus Student Loan Forbearance

The incoming administration could take action on a number of key student loan issues including simplifying payment plans extending automatic forbearance and yes approving a forgiveness plan.

Stimulus student loan forbearance. Trump on december 27 signed the highly. Keep in mind that you may need to meet certain requirements to qualify for forbearance with your private lender. Student loan borrowers can get up to 12 months of forbearance in three month increments.

Washington gray dc the 900 billion 5 593 page stimulus bill does not address student loan debt. In august president donald. In march congress passed the cares act which provided federal student loan forbearance waved interest and stopped collections on defaulted loans through sept.

A new stimulus package is close to becoming a bill as congress works on it including the second stimulus checks worth 600 for each eligible individual and a 300 per week unemployment insurance. Student loan relief was not extended in the 2 3 trillion coronavirus relief and government spending package signed by president donald trump sunday night. Millions of student loan borrowers might be required to resume federal student loan payments on feb.

The forbearance period for federal loans originally scheduled to end in december was recently extended through january 31 2021. As of now borrowers are expected to restart payments in february. Millions of student loan borrowers might be required to resume federal student loan payments on february 1st.

But lawmakers eliminated that provision in the final rounds of the discussions. The 900 billion 5 593 page stimulus bill does not address student loan debt.