Trump announced almost two weeks ago that he was unilaterally providing student loan relief under a package of executive actions as cross-party negotiations over additional coronavirus aid fell apart. But the president’s Aug. 8 memorandum on student loans did not stipulate how the program would work, nor dictate how the Education Department would execute the order. The department will take a relatively broad interpretation of Trump’s directive, effectively extending the student loan benefits provided under the CARES Act until the end of the year. That relief was set to expire on Sept. 30, just weeks before the presidential election. DeVos’ department said it plans to continue the automatic suspension of monthly payments on all federally held student loans and will keep the interest rate on those loans set to zero through Dec. 31.

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by Michael Stratford, Politico.

Posted: August 21st, 2020, by: admin. Categories: . Awaiting Comments.