Stefanik’s bill would let 2020 college grads defer student loans
SCHUYLERVILLE — On Friday, North Country Congresswoman Elise Stefanik co-introduced a bill that would let 2020 college graduates defer their student loans for up to three years, due to the impact of the coronavirus pandemic.
Stefanik, R-Schuylerville, introduced the COVID-19 Graduate Relief Act along with Rep. Josh Harder, D-Calif., and Rep. Brian Fitzpatrick, R-Pa. The U.S. secretary of education can extend this relief to 2021 and 2022 graduates if deemed necessary. Sen. Mitt Romney, R-Utah, introduced the bill in the Senate.
“This bipartisan legislation is a critical addition to the already passed CARES Act, which provides much-needed student loan relief to students during the COVID-19 pandemic,” Stefanik said Friday in a press release. “Graduating college students have already suffered severe disruption in their education, and the current state of our economy may have an impact on their ability to find a job following graduation. Allowing graduating students to defer their loans for up to three years not only will give students monetary relief, but also will significantly improve their mental health and stress levels. The COVID-19 crisis has a profound impact on each one of us, and its important to ensure our young people attempting to enter the workforce are not forgotten.”