Dispute Over Student Loans Helps Stall Stimulus Bill – Inside Higher Ed
A $1.6 trillion Senate Republican economic stimulus proposal during the coronavirus crisis stalled over disputes, including how to help student loan borrowers.
A $1.6 trillion stimulus proposal from Republicans to help the economy during the coronavirus crisis stalled in the Senate over a number of objections by Democrats, including that the proposal didn’t do enough to help those saddled with student debt.
The bill was hindered as well by five Republican senators putting themselves in self-quarantine, including Kentucky’s Rand Paul, who announced Sunday he has tested positive for the virus. A procedural vote only to move forward with debate fell far short of the needed 60 votes, 47 to 47.
Democrats had raised a number of objections to the Republican plan, from the amount of funding to businesses to a lack of help for hospitals and states. But a Democratic aide emailed that among them is concern a six-month moratorium on borrowers repaying student loans wouldn’t provide enough relief.
While negotiations were continuing as of press time, associations representing colleges and universities were also distressed that the Republican proposal to provide $6 billion, spread out among all public and private universities and for emergency grants to students, as well as an additional $1.3 billion for research institutions, is far from enough.