Student loan forgiveness has been a hot congressional topic, peaking in response to the added financial constraints of the COVID-19 pandemic and successive attempts by federal actors to alleviate, or continue, the often devastating loan burden. ...
What happens to existing federal student loans now that loan repayments have resumed, and the grace period has expired? Now that federal student loan payments have resumed, your existing loan amount will be reflected on your monthly bill, reduced by any loan forgiveness or cancellation you ...
Since March 2020, millions of federal student loan borrowers have been on hiatus from making student loan payments each month. Due to government intervention in response to the COVID-19 pandemic, payments on federally owned student loans were automatically placed in forbearance, and interest rates w...
"This is the case with the coronavirus relief measures established in early 2020, which halted student loan payments and interest accrual" on most federal student loans, he says. "Basically, due to COVID-19 parameters, this time the loans won’t be accruing any interest.” How to Choo...
Student loans: Shutdown or not, borrowers’ payments will still be due. For the most part, loan servicers would be able to continue to process payments regularly — but there could be delays for those who need to consult with or seek help from the Education...
Student loans: Shutdown or not, borrowers’ payments will still be due. For the most part, loan servicers would be able to continue to process payments regularly — but there could be delays for those who need to consult with or seek help from the Education D...
President Biden recently signed the $1.9 trillion American Rescue Plan Act of 2021, H.R. 1319 (the “Act”) into law on March 11, 2021. The Act will send aid to millions of Americans still recovering from the global COVID-19 pandemic. The Act modifies certain provisions of the Paycheck...
The Federal Reserve took additional actions on April 9 to provide up to $2.3 trillion in loans to support the US economy during the coronavirus (COVID-19) pandemic. This LawFlash covers the new and expanded programs, and provides comprehensive coverage o
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Due to the COVID-19 pandemic, on April 8, 2020, the FRB amended the consent order to allow the Company to exclude from the asset cap any on-balance sheet exposure resulting from loans made by the Company in connection with the Small Business Administration's Paycheck Protection Program ...