Lawmakers suspended education debt payments through Sept. 30 after the Trump administration in March gave borrowers the option of postponing payments for at least 60 days as the pandemic battered the economy. As the deadline approached and Congress was unable to reach an agreement on an extension, Trump stepped in this month. Chief among them is that the order still excludes more than 7 million borrowers whose federal loans are held by private companies or universities. The Education Department has had trouble executing some elements of the student loan moratorium. The paychecks of tens of thousands of borrowers were still being shorted to repay past-due student loans months after the order went into effect.

Source: Washington Post August 21, 2020 21:10 UTC