Stimulus Update Today Student Loans

Tucked inside the new stimulus plan which is a.

Stimulus update today student loans. The stimulus package won t extend the payment pause for student loan borrowers. Recently congress passed a covid stimulus bill to the tune of 900 billion dollars. Under the cares act the 2 2 trillion stimulus package that congress passed in march there is a tax incentive for employers to help their employees with student loan repayment.

Employers to make pre tax payments of up to a maximum of 5 250 per employee between march 27 2020 and december 31 2020. Now the bill will be sent to president donald trump to be signed into law. 600 stimulus checks for people who made.

Despite the stimulus deal s shortcomings on student loan relief the bill will nevertheless contain other important provisions including the following. The cares act allows. The relief bill was part of a larger 2 3 trillion dollar government spending bill.

House democrats proposed a new 2 2 trillion stimulus package that includes 1 200 second stimulus checks and 600 weekly unemployment benefits. Biden s stimulus plan doesn t mention student loan forgiveness. People with student loan payments looming may not like the newest covid relief stimulus package.

If no other action is taken 42 million borrowers will have to resume their payments in a little over a month. The 900 billion stimulus package directs 600 to each child in a family as long as they are considered qualifying children under the irs tax code for the child tax credit.