The Trump administration is considering a temporary suspension of student debt payments amid the coronavirus outbreak, Treasury Secretary Steven Mnuchin said on Friday.
The proposal is part of a package meant to address the economic fallout of COVID-19, the disease the coronavirus causes.
“Thats on our list of 50 different items were bringing to the president for a decision. That will be something were looking at,” Mnuchin said during an appearance on CNBCs “Squawk Box” after being asked if he would consider a three-month suspension of payments.
“The president is all about action, action, action,” he added.
Senate Minority Leader Sen. Chuck Schumer (D-N.Y.) and other Senate Democrats unveiled a package this week that included six months of relief for people with student debt and federally insured or guaranteed mortgages.
The Student Loan Borrower Assistance called on Tuesday for the federal government to act to ensure “the federal student loan system does not exacerbate the disaster” of COVID-19.
“As people become sick, and as the effects of the virus ripple through the economy, the coronavirus is going tRead More – Source