Trump recently announced he would order all interest waived on federal student loans. The interest relief will reportedly impact 42 million Americans, according to Politico.
Some organizations said Friday the president’s plan does not go far enough. Several support a plan by Senate Democrats that suspends payments until the federal government’s national emergency has ended. Afterward, borrowers would have a 90-day period where missed payments will not result in fees or penalties, including negative credit reporting.
“Anything less ... will not provide the short and long term economic stimulus that distressed student borrowers so desperately need,” said Alexis Goldstein, senior policy analyst for Americans for Financial Reform.
Please return to www.ajc.com for updates.