New Stimulus Bill For Student Loans

However the stimulus bill just passed by congress does extend one of the other student loan benefits that was included in the cares act a provision that allows.

New stimulus bill for student loans. Student loan borrowers should therefore be prepared to resume making their student loan payments beginning on jan. 31 2021 unless congress or the new administration takes action. The cares act the 2 2 trillion stimulus passed in march provides a tax incentive for your employer to help pay your student loans.

How student loans became a 1 6 trillion problem. New coronavirus stimulus bill does not include student loan relief mandatory payments are set to resume in february 2021. However the cares act the 2 2 trillion stimulus plan that congress passed in march excluded ffelp loans and perkins loans from student loan relief such as paused payments.

The covid stimulus bill will provide nearly 23 billion to colleges and universities some of which the schools must use to provide emergency financial help to students. Your employer can make tax free. The provision will expire in five years although experts.

Earlier versions of the bi partisan legislation included an extension on the federal student loan payment and interest suspension currently set to expire on january 31st 2021. Today congress will be passing a new covid 19 related stimulus bill. The new stimulus bill didn t extend the student loan payment pause but it has 8 provisions that will affect how families pay for college provided by dow jones jan 1 2021 4 36 pm utc.