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House coronavirus aid bill would pay off student loans

By Susan Ferrechio
Published May 12, 2020 9:28pm ET
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House coronavirus aid bill would pay off student loans
The share of U.S. student debt delinquent for at least 90 days rose slightly to 11.45 percent in the second quarter, according to the latest report on household debt and credit from the Federal Reserve Bank of New York. (Michael Okoniewski/Bloomberg) | Michael Okoniewski

The $3 trillion coronavirus aid package Democrats introduced Tuesday calls for the Treasury to make payments of up to $10,000 per student loan.

The proposal, which Democrats plan to vote on Friday, calls for Treasury to make student loan payments until September 2021. Any unused portion of the $10,000 would be applied to the outstanding loan balance if it’s not reached by the 2021 deadline.

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