Whats In The New Stimulus Bill Student Loans

The 2 2 trillion emergency stimulus bill provides sweeping relief for american consumers businesses and industries.

Whats in the new stimulus bill student loans. The bill expands direct payments to mixed status households. The legislation also extends pandemic unemployment assistance a program aimed at a. As before checks will begin to phase.

The total allocated for the checks in the. Checks in the mail. The tax related bits of the bill kick in around page 1 966.

Today congress will be passing a new covid 19 related stimulus bill. S 840 student loan borrower bill of rights sen. The new benefit up to 300 per week is half the amount provided by the original stimulus bill in the spring.

The cares act also includes much needed assistance for student loan borrowers. The bill includes 166 billion in new direct payments of up to 600 per adult and child for individuals making up to 75 000 a year and 1 200 for couples making up to 150 000 a year. The package does not extend the suspension of student loan interest and payments which is set to expire at the end of january.

What the new bill says about student loans the cares act in march suspended all payments on government held federal student loans froze all interest and stopped collection efforts. S 445 simplifying access to student loan information act of 2015 sen. If you have student loans and are experiencing financial hardship right now here s what the cares act can do for you.

The bill includes 600 direct payments for individuals making less than 75 000 per year and to couples making up to 150 000 per year. Earlier versions of the bi partisan legislation included an extension on the federal student loan payment and interest suspension currently set to expire on. The cares act the first major stimulus bill passed in response to the pandemic suspends all payments interest and collections on government held federal student loans through september 30.