{ "id": "R46314", "type": "CRS Report", "typeId": "R", "number": "R46314", "active": true, "source": "CRSReports.Congress.gov, EveryCRSReport.com", "versions": [ { "source_dir": "crsreports.congress.gov", "title": "Federal Student Loan Debt Relief in the Context of COVID-19", "retrieved": "2023-07-01T04:03:24.117294", "id": "R46314_15_2023-05-30", "formats": [ { "filename": "files/2023-05-30_R46314_c14835433cea3218d3bbaf7c7d02cc090fb1baf8.pdf", "format": "PDF", "url": "https://crsreports.congress.gov/product/pdf/R/R46314/15", "sha1": "c14835433cea3218d3bbaf7c7d02cc090fb1baf8" }, { "format": "HTML", "filename": "files/2023-05-30_R46314_c14835433cea3218d3bbaf7c7d02cc090fb1baf8.html" } ], "date": "2023-05-30", "summary": null, "source": "CRSReports.Congress.gov", "typeId": "R", "active": true, "sourceLink": "https://crsreports.congress.gov/product/details?prodcode=R46314", "type": "CRS Report" }, { "source_dir": "crsreports.congress.gov", "title": "Federal Student Loan Debt Relief in the Context of COVID-19", "retrieved": "2023-07-01T04:03:24.115101", "id": "R46314_11_2022-10-12", "formats": [ { "filename": "files/2022-10-12_R46314_eefa2e9bcd0c3a58cc009c748944945313f770ee.pdf", "format": "PDF", "url": "https://crsreports.congress.gov/product/pdf/R/R46314/11", "sha1": "eefa2e9bcd0c3a58cc009c748944945313f770ee" }, { "format": "HTML", "filename": "files/2022-10-12_R46314_eefa2e9bcd0c3a58cc009c748944945313f770ee.html" } ], "date": "2022-10-12", "summary": null, "source": "CRSReports.Congress.gov", "typeId": "R", "active": true, "sourceLink": "https://crsreports.congress.gov/product/details?prodcode=R46314", "type": "CRS Report" }, { "source_dir": "crsreports.congress.gov", "title": "Federal Student Loan Debt Relief in the Context of COVID-19", "retrieved": "2023-07-01T04:03:24.114391", "id": "R46314_9_2022-02-28", "formats": [ { "filename": "files/2022-02-28_R46314_bb7b80c1edb607c10bc587ee28e720d0ef75231e.pdf", "format": "PDF", "url": "https://crsreports.congress.gov/product/pdf/R/R46314/9", "sha1": "bb7b80c1edb607c10bc587ee28e720d0ef75231e" }, { "format": "HTML", "filename": "files/2022-02-28_R46314_bb7b80c1edb607c10bc587ee28e720d0ef75231e.html" } ], "date": "2022-02-28", "summary": null, "source": "CRSReports.Congress.gov", "typeId": "R", "active": true, "sourceLink": "https://crsreports.congress.gov/product/details?prodcode=R46314", "type": "CRS Report" }, { "source_dir": "crsreports.congress.gov", "title": "Federal Student Loan Debt Relief in the Context of COVID-19", "retrieved": "2023-07-01T04:03:24.112917", "id": "R46314_7_2021-09-17", "formats": [ { "filename": "files/2021-09-17_R46314_44a0bb782301a2ac103c369e2a09473e8471db55.pdf", "format": "PDF", "url": "https://crsreports.congress.gov/product/pdf/R/R46314/7", "sha1": "44a0bb782301a2ac103c369e2a09473e8471db55" }, { "format": "HTML", "filename": "files/2021-09-17_R46314_44a0bb782301a2ac103c369e2a09473e8471db55.html" } ], "date": "2021-09-17", "summary": null, "source": "CRSReports.Congress.gov", "typeId": "R", "active": true, "sourceLink": "https://crsreports.congress.gov/product/details?prodcode=R46314", "type": "CRS Report" }, { "source_dir": "crsreports.congress.gov", "title": "Federal Student Loan Debt Relief in the Context of COVID-19", "retrieved": "2023-07-01T04:03:24.111680", "id": "R46314_5_2021-02-08", "formats": [ { "filename": "files/2021-02-08_R46314_9664010be4d515df7ef293332cbb214681041a65.pdf", "format": "PDF", "url": "https://crsreports.congress.gov/product/pdf/R/R46314/5", "sha1": "9664010be4d515df7ef293332cbb214681041a65" }, { "format": "HTML", "filename": "files/2021-02-08_R46314_9664010be4d515df7ef293332cbb214681041a65.html" } ], "date": "2021-02-08", "summary": null, "source": "CRSReports.Congress.gov", "typeId": "R", "active": true, "sourceLink": "https://crsreports.congress.gov/product/details?prodcode=R46314", "type": "CRS Report" }, { "source_dir": "crsreports.congress.gov", "title": "Federal Student Loan Debt Relief in the Context of COVID-19", "retrieved": "2023-07-01T04:03:24.110984", "id": "R46314_4_2020-08-24", "formats": [ { "filename": "files/2020-08-24_R46314_02fb4fa03b11b3710a2064f6989cb9ef2794a6f6.pdf", "format": "PDF", "url": "https://crsreports.congress.gov/product/pdf/R/R46314/4", "sha1": "02fb4fa03b11b3710a2064f6989cb9ef2794a6f6" }, { "format": "HTML", "filename": "files/2020-08-24_R46314_02fb4fa03b11b3710a2064f6989cb9ef2794a6f6.html" } ], "date": "2020-08-24", "summary": null, "source": "CRSReports.Congress.gov", "typeId": "R", "active": true, "sourceLink": "https://crsreports.congress.gov/product/details?prodcode=R46314", "type": "CRS Report" }, { "source": "EveryCRSReport.com", "id": 622622, "date": "2020-04-16", "retrieved": "2020-04-23T22:22:19.233566", "title": "Federal Student Loan Debt Relief in the Context of COVID-19", "summary": "The Higher Education Act of 1965 (HEA; P.L. 89-329, as amended) authorizes the operation of three federal student loan programs: the William D. Ford Federal Direct Loan (Direct Loan) program, the Federal Family Education Loan (FFEL) program, and the Federal Perkins Loan program. As of December 31, 2019, $1.5 trillion in such loans, borrowed by or on behalf of 42.8 million individuals, remained outstanding. In response to the current coronavirus disease 2019 (COVID-19) pandemic, numerous questions have arisen regarding student loan repayment flexibilities and debt relief that may be available to individuals to alleviate potential financial effects related to COVID-19. \nThe HEA authorizes several flexibilities that may be relevant to individuals facing financial difficulties resulting from COVID-19. These include the following:\nLoan deferment and forbearance options offer a borrower temporary relief from the obligation to make monthly payments. In certain instances, interest does not accrue during deferment periods; although interest does accrue during forbearance periods. Periods of deferment or forbearance do not count toward the 120 monthly payments required to qualify for Public Service Loan Forgiveness (PSLF), nor do they count toward the 20- or 25-year repayment periods under the income-driven repayment plans.\nIncome-driven repayment (IDR) plans afford borrowers the opportunity to make payments in amounts that are capped at a specified share or proportion of their discretionary income over a repayment period not to exceed 20 or 25 years, depending on the plan. At the end of the repayment period, the remaining balance of an individual\u2019s loans is forgiven. \nRecent administrative and congressional actions, including the enactment of the Coronavirus Aid, Relief, and Economic Security (CARES) Act (P.L. 116-136), provide additional student loan relief measures:\nInterest rates on federally held student loans are being set to 0% from March 13, 2020, through September 30, 2020. \nFederally held student loans are being placed in a special administrative forbearance for March 13, 2020, through September 30, 2020. During this time, borrowers will not be required to make payments due on their loans. This special administrative forbearance will count toward the 120 monthly payments required to qualify for PSLF, the 20- and 25-year repayment periods under the IDR plans, and the nine voluntary payments required for individuals to rehabilitate their defaulted loans.\nDebt collections activities, including involuntary collection activities such as wage garnishment and offset of certain federal benefits (e.g., federal income tax return benefits, Social Security benefits) are being suspended on federally held student loans for March 13, 2020, through September 30, 2020.", "type": "CRS Report", "typeId": "REPORTS", "active": true, "formats": [ { "format": "HTML", "encoding": "utf-8", "url": "https://www.crs.gov/Reports/R46314", "sha1": "50dad9e8fbbbd4c53ef26ba20b45df5518d02290", "filename": "files/20200416_R46314_50dad9e8fbbbd4c53ef26ba20b45df5518d02290.html", "images": {} }, { "format": "PDF", "encoding": null, "url": "https://www.crs.gov/Reports/pdf/R46314", "sha1": "040eaf707cfc057b9b3d88d6b8354f28bbd52829", "filename": "files/20200416_R46314_040eaf707cfc057b9b3d88d6b8354f28bbd52829.pdf", "images": {} } ], "topics": [ { "source": "IBCList", "id": 4906, "name": "Postsecondary Education" } ] } ], "topics": [ "Domestic Social Policy", "National Defense" ] }