Next Stimulus Bill And Student Loans

For millions of americans that s the good news.

Next stimulus bill and student loans. Congress is close to finalizing a new stimulus package with second stimulus checks of 600 for each individual and child as well as 300 a week of unemployment insurance. Democrats and republicans were finally able to reach an agreement on another stimulus package recently. Politico and other outlets are now reporting that the new stimulus bill will not include an extension on student loan relief.

Nearly nine months after they shared the first package the cares act they have introduced a bill that would total 900 billion. Two weeks ago a new stimulus package proposal would have extended student loan relief. Congress did include student loan relief in the first stimulus bill.

The statement applauded the numerous provisions democrats have secured aid the negotiations including an end to surprise billing support for small businesses rental assistance enhanced unemployment insurance benefits nutrition assistance and another round of stimulus checks. 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. The stimulus package won t extend the payment pause for student loan borrowers.

More specifically the bill does not include student loan relief nor does it extend various federal student loan flexibilities such as a suspension of payments or an. According to business insider the new stimulus bill alters the federal pell grant program for the upcoming school year by. Cancel 10 000 of student loans for all federal borrowers.

A joint statement issued by house speaker nancy pelosi and senate minority leader chuck schumer sunday indicated that provisions targeting student loans are included in the newest relief package. However that particular relief has already expired. Through january 31 2021 student loan borrowers can still pay their federal student loans if they choose.

First while student loans were dropped from the most recent stimulus package congress could cancel 10 000 of student loans. Department of education building in washington d c. That said most americans have been wondering why they didn t get a second stimulus check.