(USA Features) The Trump administration is considering implementing a temporary suspension of federal student loan payments in response to economic hardships to some caused by loss of income due to COVID-19-related suspensions.
In an interview on CNBC, Treasury Secretary Steve Mnuchin said student debt relief is one of many proposals that will be made to President Donald Trump in response to the outbreak.
“I can tell you that’s on our list of 50 different items we’re bringing to the president for a decision. That will be something we’re looking at,” Mnuchin told CNBC’s Jim Cramer, who asked specifically if student debt payment suspensions were being considered.
“We have lots of authorities,” Mnuchin added.
During his nationally televised coronavirus address Wednesday and in the days since, Trump has said he has instructed various federal agencies to begin drafting plans to provide Americans with financial and economic relief due to business and employment losses related to the virus.