A Coronavirus Stimulus Plan Is Coming. How Will Higher Education Figure In? – The Chronicle of Higher Education
A week after higher education saw its near-term financial outlook shot into a state of disarray, some relief could be coming soon from Washington.
As members of Congress negotiate a plan to boost the economy during the recession expected to result from the Covid-19 pandemic, some lawmakers have proposed including relief for student-loan borrowers as part of the stimulus package. That relief would very likely exceed an option for borrowers, announced on Friday by the Education Department, to enter forbearance on their student loans for 60 days without accruing interest. The department also suspended payments by borrowers who are more than 31 days delinquent, and the White House had previously waived interest on federal student-loan payments in response to the crisis.
Nearly a dozen higher-education associations have also asked lawmakers for about $50 billion in federal assistance to help colleges and students stay afloat. On Thursday the American Council on Education and 10 other higher-ed associations called on Congress to provide up to $1,500 apiece to students who were suddenly forced off campus, as well as assistance for institutions that have been forced to effectively close their doors and take instruction online.