Student Loan Relief for Federal Workers During Government Shutdowns.
This bill automatically pauses federal student loan payments for federal employees and certain contractors if a government shutdown lasts 14 days or longer. During this pause, no interest will accumulate, and the suspended months will still count toward loan forgiveness programs, protecting borrowers' financial progress and credit scores during periods without pay. This measure aims to provide financial stability during government funding lapses.
Key points
Automatic suspension of federal student loan payments for federal workers and affected contractors during shutdowns lasting 14 days or more.
Interest stops accruing on the loans during the suspension period, saving borrowers money.
Suspended months are counted as if payments were made for the purpose of loan forgiveness programs (e.g., PSLF).
Introduced
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