Saratoga, NY – Today, Congresswoman Elise Stefanik introduced the COVID-19 Graduate Relief Act along with Rep. Josh Harder (D-CA) and Rep. Brian Fitzpatrick (R-PA). This bipartisan legislation provides necessary loan relief to students graduating from college during the COVID-19 pandemic by allowing 2020 graduates to defer their student loans for up to three years. The Secretary of Education can extend this relief to 2021 and 2022 graduates if deemed necessary. Senator Mitt Romney (R-UT) introduced the COVID-19 Graduate Relief Act in the Senate.
“This bipartisan legislation is a critical addition to the already passed CARES Act, which provides much-needed student loan relief to students during the COVID-19 pandemic,” said Congresswoman Stefanik. “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. 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. 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.”