Coronavirus outbreak prompts Trump to waive interest on federal student loan debt “until further notice.” And more from Washington!
During a Rose Garden ceremony Friday, President Donald Trump announced a plan to waive all federal student loan interest amid the coronavirus outbreak.
Specifically, Trump said, “To help our students and their families, I’ve waived interest on all student loans held by federal government agencies, and that will be until further notice. That’s a big thing for a lot of students that are left in the middle right now. Many of those schools have been closed.”
He officially declared a national emergency Friday stating, “the action I am taking will open up access to up to $50 billion of very importantly — very important and a large amount of money for states and territories and localities in our shared fight against this disease.”
The transcript of the press briefing is available here.
Also in Washington over the weekend, in a 363-40 vote, the House passed legislation aimed at “mitigating the economic impact of the coronavirus by providing financial assistance to people impacted by the pandemic,” according to The Hill.
ACA International will continue to follow these stories with updates relevant to the accounts receivable management industry.