Federal Student Loan Debt Relief in the Context of COVID-19. CRS Report R46314, Version 9. Updated
Saved in:
| Title: | Federal Student Loan Debt Relief in the Context of COVID-19. CRS Report R46314, Version 9. Updated |
|---|---|
| Language: | English |
| Authors: | Hegji, Alexandra, Library of Congress, Congressional Research Service (CRS) |
| Source: | Congressional Research Service. 2022. |
| Availability: | Congressional Research Service. Web site: https://crsreports.congress.gov/ |
| Peer Reviewed: | N |
| Page Count: | 26 |
| Publication Date: | 2022 |
| Intended Audience: | Policymakers |
| Document Type: | Reports - Descriptive |
| Descriptors: | Federal Aid, Student Loan Programs, Federal Legislation, Debt (Financial), Loan Repayment, COVID-19, Pandemics, Loan Default |
| Laws, Policies and Program Identifiers: | Federal Direct Student Loan Program |
| Abstract: | Title IV of 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. While new loans are currently authorized to be made only through the Direct Loan program, previously made FFEL and Perkins Loan program loans remain outstanding and borrowers of such loans remain responsible for repaying them. 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 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: | ED622514 |
| Database: | ERIC |
| FullText | Text: Availability: 0 CustomLinks: – Url: https://eric.ed.gov/contentdelivery/servlet/ERICServlet?accno=ED622514 Name: ERIC Full Text Category: fullText Text: Full Text from ERIC |
|---|---|
| Header | DbId: eric DbLabel: ERIC An: ED622514 AccessLevel: 3 PubType: Report PubTypeId: report PreciseRelevancyScore: 0 |
| IllustrationInfo | |
| Items | – Name: Title Label: Title Group: Ti Data: Federal Student Loan Debt Relief in the Context of COVID-19. CRS Report R46314, Version 9. Updated – Name: Language Label: Language Group: Lang Data: English – Name: Author Label: Authors Group: Au Data: <searchLink fieldCode="AR" term="%22Hegji%2C+Alexandra%22">Hegji, Alexandra</searchLink><br /><searchLink fieldCode="AR" term="%22Library+of+Congress%2C+Congressional+Research+Service+%28CRS%29%22">Library of Congress, Congressional Research Service (CRS)</searchLink> – Name: TitleSource Label: Source Group: Src Data: <searchLink fieldCode="SO" term="%22Congressional+Research+Service%22"><i>Congressional Research Service</i></searchLink>. 2022. – Name: Avail Label: Availability Group: Avail Data: Congressional Research Service. Web site: https://crsreports.congress.gov/ – Name: PeerReviewed Label: Peer Reviewed Group: SrcInfo Data: N – Name: Pages Label: Page Count Group: Src Data: 26 – Name: DatePubCY Label: Publication Date Group: Date Data: 2022 – Name: Audience Label: Intended Audience Group: Audnce Data: Policymakers – Name: TypeDocument Label: Document Type Group: TypDoc Data: Reports - Descriptive – Name: Subject Label: Descriptors Group: Su Data: <searchLink fieldCode="DE" term="%22Federal+Aid%22">Federal Aid</searchLink><br /><searchLink fieldCode="DE" term="%22Student+Loan+Programs%22">Student Loan Programs</searchLink><br /><searchLink fieldCode="DE" term="%22Federal+Legislation%22">Federal Legislation</searchLink><br /><searchLink fieldCode="DE" term="%22Debt+%28Financial%29%22">Debt (Financial)</searchLink><br /><searchLink fieldCode="DE" term="%22Loan+Repayment%22">Loan Repayment</searchLink><br /><searchLink fieldCode="DE" term="%22COVID-19%22">COVID-19</searchLink><br /><searchLink fieldCode="DE" term="%22Pandemics%22">Pandemics</searchLink><br /><searchLink fieldCode="DE" term="%22Loan+Default%22">Loan Default</searchLink> – Name: SubjectThesaurus Label: Laws, Policies and Program Identifiers Group: Su Data: <searchLink fieldCode="SU" term="%22Federal+Direct+Student+Loan+Program%22">Federal Direct Student Loan Program</searchLink> – Name: Abstract Label: Abstract Group: Ab Data: Title IV of 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. While new loans are currently authorized to be made only through the Direct Loan program, previously made FFEL and Perkins Loan program loans remain outstanding and borrowers of such loans remain responsible for repaying them. 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 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. – Name: AbstractInfo Label: Abstractor Group: Ab Data: ERIC – Name: DateEntry Label: Entry Date Group: Date Data: 2022 – Name: AN Label: Accession Number Group: ID Data: ED622514 |
| PLink | https://search.ebscohost.com/login.aspx?direct=true&site=eds-live&db=eric&AN=ED622514 |
| RecordInfo | BibRecord: BibEntity: Languages: – Text: English PhysicalDescription: Pagination: PageCount: 26 Subjects: – SubjectFull: Federal Aid Type: general – SubjectFull: Student Loan Programs Type: general – SubjectFull: Federal Legislation Type: general – SubjectFull: Debt (Financial) Type: general – SubjectFull: Loan Repayment Type: general – SubjectFull: COVID-19 Type: general – SubjectFull: Pandemics Type: general – SubjectFull: Loan Default Type: general – SubjectFull: Federal Direct Student Loan Program Type: general Titles: – TitleFull: Federal Student Loan Debt Relief in the Context of COVID-19. CRS Report R46314, Version 9. Updated Type: main BibRelationships: HasContributorRelationships: – PersonEntity: Name: NameFull: Library of Congress, Congressional Research Service (CRS) – PersonEntity: Name: NameFull: Hegji, Alexandra IsPartOfRelationships: – BibEntity: Dates: – D: 28 M: 02 Type: published Y: 2022 Titles: – TitleFull: Congressional Research Service Type: main |
| ResultId | 1 |
