Stimulus Bill Update Student Loans

House democrats proposed in the heroes act the 3 trillion stimulus bill that passed the house but not the senate 10 000 of student loan forgiveness for borrowers who are struggling.

Stimulus bill update student loans. Under this potential proposal. The bill now heads to the white house where president trump is expected to sign it into law. Washington gray dc the 900 billion 5 593 page stimulus bill does not address student loan debt.

Millions of student loan borrowers might be required to resume federal student loan payments on february 1st. In march congress passed the cares act which provided federal student loan forbearance waved interest and stopped collections on. Biden was a clear advocate for wiping at least 10 000 of federal student loans something that had been proposed by fellow democrat senator warren.

First while student loans were dropped from the most recent stimulus package congress could cancel 10 000 of student loans for all federal student loan borrowers. Stimulus bill does not include payment pause extension for student loans. The white house and senate republicans released their proposal of a stimulus package to help the country recover from the coronavirus induced recession and struggling student loan borrowers.

Update 21 january 2021 at 15 54 cet.