Federal Student Loan Debt Relief in the Context of COVID-19. CRS Report R46314, Version 8. Updated
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| Title: | Federal Student Loan Debt Relief in the Context of COVID-19. CRS Report R46314, Version 8. Updated |
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| Language: | English |
| Authors: | Hegji, Alexandra, Library of Congress, Congressional Research Service (CRS) |
| Source: | Congressional Research Service. 2021. |
| Availability: | Congressional Research Service. Web site: https://crsreports.congress.gov/ |
| Peer Reviewed: | N |
| Page Count: | 23 |
| Publication Date: | 2021 |
| Intended Audience: | Policymakers |
| Document Type: | Reports - Descriptive |
| Education Level: | Higher Education Postsecondary Education |
| Descriptors: | COVID-19, Pandemics, Student Loan Programs, Student Financial Aid, Loan Repayment, Debt (Financial), Educational Legislation, Federal Legislation, Higher Education, Federal Aid, Income, Attendance, Withdrawal (Education), Credit (Finance), Loan Default, Disabilities, Unemployment |
| Laws, Policies and Program Identifiers: | Higher Education Act 1965, Coronavirus Aid Relief and Economic Security Act 2020, Federal Direct Student Loan Program, Family Education Loan Program, Perkins Loan Program |
| Abstract: | 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. The Higher Education Act of 1965 (HEA) generally authorizes several options for qualifying individuals. Recent administrative and congressional action, including the enactment of the Coronavirus Aid, Relief, and Economic Security (CARES) Act (P.L. 116-136), provide additional student loan relief measures. This report provides an overview of student loan repayment flexibilities and debt relief provisions that may be available to borrowers facing financial difficulties resulting from the pandemic. It first lists some preexisting loan terms and conditions (authorized through statute and regulations) that may be available to individuals. It then discusses specific administrative and congressional actions taken to address student loan debt in the context of COVID-19. The report concludes with a brief description of additional existing authorities that could be utilized to address other aspects of student loan relief. |
| Abstractor: | ERIC |
| Entry Date: | 2022 |
| Accession Number: | ED617508 |
| Database: | ERIC |
| Abstract: | 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. The Higher Education Act of 1965 (HEA) generally authorizes several options for qualifying individuals. Recent administrative and congressional action, including the enactment of the Coronavirus Aid, Relief, and Economic Security (CARES) Act (P.L. 116-136), provide additional student loan relief measures. This report provides an overview of student loan repayment flexibilities and debt relief provisions that may be available to borrowers facing financial difficulties resulting from the pandemic. It first lists some preexisting loan terms and conditions (authorized through statute and regulations) that may be available to individuals. It then discusses specific administrative and congressional actions taken to address student loan debt in the context of COVID-19. The report concludes with a brief description of additional existing authorities that could be utilized to address other aspects of student loan relief. |
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