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COVID-19 Graduate Relief Act

2/8/2022, 11:16 PM

Congressional Summary of S 3556

COVID-19 Graduate Relief Act

This bill allows students who graduate from institutions of higher education in 2020 to defer payments on their federal student loans for up to three years.

The Department of Education (ED) may extend deferment eligibility to students who graduate in 2021 and 2022, if ED determines that the anticipated economic impact of the coronavirus (i.e., the virus that causes COVID-19 or another coronavirus with pandemic potential) on these graduates necessitates an extension. ED must consider certain factors, such as recent unemployment statistics from the Bureau of Labor Statistics, when determining whether to extend deferment eligibility to these graduates.

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Current Status of Bill S 3556

Bill S 3556 is currently in the status of Bill Introduced since March 20, 2020. Bill S 3556 was introduced during Congress 116 and was introduced to the Senate on March 20, 2020.  Bill S 3556's most recent activity was Read twice and referred to the Committee on Health, Education, Labor, and Pensions. as of March 20, 2020

Bipartisan Support of Bill S 3556

Total Number of Sponsors
1
Democrat Sponsors
0
Republican Sponsors
1
Unaffiliated Sponsors
0
Total Number of Cosponsors
0
Democrat Cosponsors
0
Republican Cosponsors
0
Unaffiliated Cosponsors
0

Policy Area and Potential Impact of Bill S 3556

Primary Policy Focus

Education

Potential Impact Areas

- Cardiovascular and respiratory health
- Economic performance and conditions
- Emergency medical services and trauma care
- Government lending and loan guarantees
- Health promotion and preventive care
- Higher education
- Infectious and parasitic diseases
- Student aid and college costs
- Unemployment

Alternate Title(s) of Bill S 3556

COVID-19 Graduate Relief Act
COVID-19 Graduate Relief Act
A bill to amend the Higher Education Act of 1965 to provide for deferral of loan repayment for graduates during the period of the coronavirus.

Comments

Sponsors and Cosponsors of S 3556

Mitt Romney
Mitt Romney
UtahRepublican

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