House coronavirus aid bill would pay off student loans
by Susan Ferrechio
| May 12, 2020 05:28 PM
The $3 trillion coronavirus aid package Democrats introduced Tuesday calls for the Treasury to make payments of up to $10,000 per student loan.
The proposal, which Democrats plan to vote on Friday, calls for Treasury to make student loan payments until September 2021. Any unused portion of the $10,000 would be applied to the outstanding loan balance if it’s not reached by the 2021 deadline.
Senate Democrats earlier this year proposed the cancellation of student loan payments during the coronavirus pandemic in addition to wiping out at least $10,000 in student loan debt.
The $2.2 trillion coronavirus aid package President Trump signed into law on March 28 temporarily suspends some student loan payments without interest but does not eliminate debt.
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