A bill to amend the Higher Education Act of 1965 to provide for deferral of loan repayment for graduates during the period of the coronavirus.
COVID-19 Graduate Relief Act
This bill allows students who graduate from institutions of higher education in 2020 to defer payments on their federal student loans for up to three years.
The Department of Education (ED) may extend deferment eligibility to students who graduate in 2021 and 2022, if ED determines that the anticipated economic impact of the coronavirus (i.e., the virus that causes COVID-19 or another coronavirus with pandemic potential) on these graduates necessitates an extension. ED must consider certain factors, such as recent unemployment statistics from the Bureau of Labor Statistics, when determining whether to extend deferment eligibility to these graduates.Referred to the House Committee on Education and Labor.
Introduced in Senate
Read twice and referred to the Committee on Health, Education, Labor, and Pensions.
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