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Since the start of the COVID-19 pandemic, student loan borrowers have faced a series of ever-changing rules, false starts on loan forgiveness and confusion. Payments were paused during the ...
Automakers are fearful of being tagged as seeking a new government bailout so soon after the 2009 government-funded auto restructurings. Detroit has not sought industry-specific assistance ...
The American Rescue Plan Act of 2021, also called the COVID-19 Stimulus Package or American Rescue Plan, is a US$1.9 trillion economic stimulus bill passed by the 117th United States Congress and signed into law by President Joe Biden on March 11, 2021, to speed up the country's recovery from the economic and health effects of the COVID-19 pandemic and recession. [1]
The bill is referred to as "Phase 3.5" of Congress's coronavirus response. [8] [9] It followed the first three phases: phase one "was an $8.3 billion bill spurring coronavirus vaccine research and development" (the Coronavirus Preparedness and Response Supplemental Appropriations Act, 2020), which was signed
On December 19, George W. Bush announced that he had approved the bailout plan, which would give loans of $17.4 billion to U.S. automakers GM and Chrysler, stating that under present economic conditions, "allowing the U.S. auto industry to collapse is not a responsible course of action."
FSA, an arm of the U.S. Department of Education, distributes financial help to roughly 10 million students yearly and oversees the government's nearly $2 trillion federal student loan portfolio.
Automakers could use these loans to "equip or establish facilities to produce ‘advanced technology vehicles’ that would meet certain emissions and fuel economy standards; component suppliers could borrow funds to retool or build facilities to produce parts for such vehicles." [101]
Senate Democrats today unveiled a student loan relief plan in response to the coronavirus. Senate Democrats: Cancel student loan payments and $10,000 in debt amid coronavirus [Video] Skip to main ...