The AAMC joined 45 higher education organizations in a Nov. 20 letter to Education Secretary Betsy DeVos urging the department to extend the current suspension of loan payments and interest accrual for federal student loan borrowers, which is currently set to expire on Dec. 31, 2020 [see Washington Highlights, Aug. 27].
“With the recent nationwide resurgence of COVID-19, the already-high unemployment rate is likely to increase. Bringing millions of Americans back into repayment in the thick of this crisis will cause additional financial hardship and force borrowers to make difficult decisions about their limited resources,” notes the letter.
The higher education community recommends that the department extend the suspension of payments and interest accrual until Dec. 31, 2021, or until the federal government formally declares an end to the pandemic.