President Joe Biden has announced another extension of coronavirus emergency relief benefits for borrowers with federal student loans through August 31, 2022.
The original coronavirus relief bill, known as the CARES Act and signed into law on March 27, 2020, helped most federal student loan borrowers by temporarily pausing payments and involuntary collections on federally held student loans through September 30, 2020.
Since that date, there have been additional extensions and with the most recent announcement, most borrowers with student loans held by the federal government will not be required to make payments on those loans nor have interest accrue on them. In addition, collections activities such as wage garnishment and the reduction of tax refunds have been prohibited.
The Biden Administration also plans to provide a “fresh start” on repayments to all borrowers with paused loans by “eliminating the impact of delinquency and default and allowing them to reenter repayment in good standing,” according to a press release posted online by the U.S. Department of Education.
Related Posts
Supplemental Benefits In Medicare Advantage (Hearing, Vision, Dental) Under Discussion
On November 4, the Medicare Payment Advisory Commission (MedPAC) discussed how to standardize a set of three or four benefits—potentially hearing, vision and dental services—in Medicare Advantage (MA) for a future recommendation to Congress after MedPAC staff found that people have a more challenging time comparing plans when they have a variety of options. MedPAC…
Academy Provides Recommendations to Congress on Reforming the Medicare Physician Payment System
The Academy submitted comments in response to a congressional Request for Information (RFI) seeking suggestions on how to stabilize the Medicare physician payment system, including reforming the current payment structure so it supports a system that provides greater value to patients and to clinicians. The Academy provided specific recommendations on the Medicare Physician Payment System…
Have You Heard?
An Update for Academy Members from the Academy’s Executive Director
By Patrick Gallagher, MBA, Executive Director Over-the-counter (OTC) hearing aids (HAs) became officially available on Monday, October 17, 2022, and their introduction has been met with much fanfare in the media. Within the Academy community, the reaction has been more measured. The Academy has recognized that OTC HAs may be a way for adults to…