Student Loan Forgiveness In Stimulus Bill 2020
The heroes act originally included a student loan forgiveness proposal to cancel 10 000 of student loan debt as well as fixes to the public service loan forgiveness program.
Student loan forgiveness in stimulus bill 2020. Even though student loan forgiveness wasn t included in the latest stimulus bill doesn t mean congress did not help student loan borrowers. 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. If you read the revised heroes act the 2 2 trillion stimulus package that the house of representatives passed you ll notice on page 1665 that the bill refers to.
Payments are now set to resume in february. Millions of student loan borrowers might be required to resume federal student loan payments on february 1st. Biden has addressed student.
In march congress passed the cares act which provided federal student loan forbearance waved interest and stopped collections on. Washington gray dc the 900 billion 5 593 page stimulus bill does not address student loan debt. Biden will extend the payment pause for student loan borrowers and ask congress to cancel 10 000 of the debt per borrower an aide told reporters friday.
The financial fallout from the public health crisis has also increased calls for student loan forgiveness and biden faces mounting pressure to cancel more than 10 000 in debt per borrower and to.