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Page 68 - பிறகு ப்ரெஸிடெஂட் டொனால்ட் துருப்பு News Today : Breaking News, Live Updates & Top Stories | Vimarsana

Stimulus Bill Won t Extend Payment Pause for Student Loan Borrowers

Most recently, U.S. Department of Education Secretary Betsy DeVos announced that borrowers wouldn t have to resume their payments until after January 2021. Although this stimulus package won t extend that reprieve, it s possible that President-elect Joe Biden can push it out by executive order when he takes office on Jan. 20, as Trump did in August. Biden has also promised to forgive some of the debt. Higher education expert Mark Kantrowitz said the payment pause probably needs to be extended even beyond April. It will take longer for the economy to recover, and some segments might never recover, Kantrowitz said. Americans were already struggling with their student loans before the pandemic hit and drove up unemployment, with more than 1 in 4 borrowers in delinquency or default. Outstanding student loan debt in the U.S. has spiraled to more than $1.7 trillion, and the average monthly bill is around $400.

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