This is important.

March 19, 2020
By Aarthi Swaminathan

Senate Democrats (click here) today unveiled a student loan relief plan in response to the coronavirus, calling for immediate cancellation of monthly payments for the duration of the national emergency and the payment of at least $10,000 for all federal student loan borrowers.

The emergency plan was announced by Senators Chuck Schumer (D-NY), Patty Murray (D-WA), Sherrod Brown (D-OH), and Elizabeth Warren (D-MA) today.

The proposal asks Congress to authorize the Department of Education to make the monthly payments for all federal loans, tax-free for borrowers.

The proposal also calls for the suspension of interest capitalization, a minimum $10,000 debt relief payoff for all federal loan borrowers, and the suspension of all involuntary debt collections or wage garnishment for borrowers who have defaulted....