Stimulus Student Loan Update

What you need to know about student loans.

Stimulus student loan update. Senate gop wants stimulus checks but not student loan relief. Senior officials of the incoming biden administration say. Text of the stimulus bill released on monday confirms that it does not include an extension of student loan relief.

However as defined in the cares act the 2 2 trillion stimulus bill that congress passed in march federal student loans doesn t mean all federal student loans for example perkins. Administration officials say the president elect still supports the move. Biden should cancel.

According to federal reserve data americans hold about 1 7 trillion in student loan debt. That has left many with questions particularly student loan borrowers. Second stimulus checks are expected to be included in the new stimulus package.

The checks will amount to 600 for each qualifying adult and child half the amount of the 1 200 checks sent out earlier this year. Wiping out federal student loan debt is more controversial. Further reading ayanna pressley.

Treasury secretary steven mnuchin has confirmed that there will be second stimulus checks of 1 200 for each. Stimulus bill won t extend payment pause for student loan borrowers published mon dec 21 2020 3 18 pm est updated mon dec 21 2020 7 12 pm est annie nova anniereporter.