SARATOGA, NY – Congresswoman Elise Stefanik is trying to reduce the strain on graduating college students impacted by the coronavirus pandemic.
Congresswoman Stefanik introduced the COVID-19 Graduate Relief Act, bipartisan legislation that allows 2020 college graduates to defer their student loans for up to three years.
Congresswoman Stefanik says the legislation is designed to protect students entering the workforce during the pandemic. Normally, they would be required to begin paying off their student loan debt only months after graduation.
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"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," said Congresswoman Stefanik. "Allowing graduating students to defer their loans for up to 3 years not only will give students monetary relief, but also will significantly improve their mental health and stress levels."
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With the disruption in the job market caused by the pandemic, the bill seeks to provide much needed relief.
"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," Stefanik added.
The Secretary of Education can extend this relief to 2021 and 2022 graduates if deemed necessary.
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