Here are 4 reasons why Covid student loan relief may get extended:
The presidential election is scheduled for November 3. But it’s not just the President who is up for re-election. All 435 members of the House of Representatives are up for re-election, as are 35 senators. If the CARES Act’s student loan provisions are allowed to expire, over 40 million student loan borrowers will get billed on their student loans for the first time in six months, merely days before the election is held.
As a result, there may be a broad political appetite in both Congress and the White House to extend the suspension of payments, interest, and collections on federal student loan until after the election, so voters don’t take out their anger and frustration at the polls., a massive second stimulus bill, which extends the CARES Act’s student loan relief provisions by a full year to September 2021.
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