Home News Will Trump Extend Student Loan Relief? We May Know Soon – Forbes

Will Trump Extend Student Loan Relief? We May Know Soon – Forbes

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Will student loan borrowers catch a break? We may know as soon as this week.

For much of 2020, millions of student loan borrowers have not had to repay their federal student loans because of emergency pandemic relief. Congress passed the CARES Act in April in the wake of the rapid economic collapse brought about by the Covid-19 pandemic. Although the implementation of the CARES Act has been messy, the CARES Act provided substantial relief to student loan borrowers. The stimulus bill suspended payments, interest, and collections on all government-held federal student loans through September 30, 2020. President Trump subsequently extended that relief through the end of the year, to December 31, through executive action.

Democrats have been pushing to further extend the student loan moratorium well into 2021 as part of larger stimulus negotiations; House Democrats passed legislation that would push the moratorium’s expiration to September of 2021. But the Democratic-controlled House and Republican-led Senate have been at an impasse for months, and President Trump has been silent on the topic.

As president, Biden could enact an extension on his own without Congress via executive action, much as President Trump did earlier this year. But there would be a disruptive gap before he could take any action.

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