Many borrowers have had a break from paying their student loans since March, but if Congress is unable to pass another relief package by the end of the month, payments may have to be made come January.
Congress hit the pause button on student loan payments and interest in March when they passed the Coronavirus Aid, Relief and Economic Security Act. Without another relief bill, the provision was set to expire at the end of September but was extended until December 31 by way of an executive order from PresidentLegislators on Capitol Hill have been working for months to put together another relief package and experts have issued dire warnings about the consequences of delayed aid.
Hope that legislators can come together and pass a bipartisan relief package is dwindling as the partisan divide appears to be growing. Even if Congress fails to act on more relief before the December 31 deadline, it's still possible borrowers could still see continued relief.
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