The president later Thursday that he’d “probably” signal the executive orders Friday or maybe Saturday morning.
“They’re being drawn today,” Trump said, linking the danger of executive actions to the continuing talks in Congress over coronavirus relief. “We’ll see what happens. It’s possible we’ll make a bargain, but it’s also possible we won’t.”
It’s not clear exactly what the president’s executive actions on pupil loans would entail. Trump at March unilaterally suspended attention on federally held pupil loans. The CARES Act, H.R. 748 (116), subsequently codified that coverage to law in March and took it a step farther, automatically suspending monthly obligations.
Trump’s danger of executive actions comes as negotiations remain stalled on Capitol Hill over a second financial rescue package to tackle the fallout in the coronavirus pandemic.
Congressional Democrats have suggested expanding pupil loan aid to pay more borrowers and expanding the protections for another year. Those advantages are scheduled to expire on Sept. 30.
Senate Republicans’ stimulus program, S. 4320 (116), published last month would permit the CARES Act pupil loan relief to perish, rather suggesting an overhaul of this government’s present income-based repayment choices.
However there were growing calls from Republicans lately to expand the pupil loan relief given under the Cares Act this spring.
Three Republican attorneys general on Wednesday signed onto a letter urging congressional leaders to expand the aid to borrowers and also consider further extending the benefits beyond September.
Sen. John Cornyn (R-Texas) additionally endorsed an expansion of this CARES Act pupil loan relief before this week, stating on the Senate floor that the rewards were popular with his constituents.
“With so much economic uncertainty, we can’t allow that provision to expire,” Cornyn said on Monday. “Student loan debt is a real and growing problem in our country, and families should never be in the situation where they’re sacrificing their basic needs just to make those student loan payments, especially during the time of a global emergency.”