June 21, 2021

CNBC: Senators Warren, Smith, Markey warn of ‘extraordinary financial hardship’ when federal student loan payments resume

When the coronavirus pandemic first swept the United States in March 2020, student debt relief was among the first policies enacted to help struggling Americans. Since March 27, 2020, federal student loan interest rates have been set to 0% and payments have been paused. But the policy is set to expire on Oct. 1, 2021.

On Monday, Democratic Senators Elizabeth Warren, Tina Smith and Edward J. Markey sent letters to the CEOs of all federal student loan servicers requesting information about the steps the companies are taking to transition millions of federal student loan borrowers back into repayments once the moratorium ends. 
Read full article here.

By:  Abigail Johnson Hess
Source: CNBC