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- A temporary suspension of student loan debt is one of many policies under consideration at the White House, Treasury Secretary Steven Mnuchin said Friday.
- The proposal comes as policymakers move to limit the economic fallout of the coronavirus outbreak.
- “That’s on our list of 50 different items we’re bringing to the president for a decision. That’ll be something we’re looking at,” Mnuchin said.
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Treasury Secretary Steven Mnuchin said Friday a temporary suspension of student loan debt is one of many policies the White House might pursue as the coronavirus pandemic hits the US economy.
Asked whether a three-month hiatus from student loan payments was under consideration, Mnuchin told CNBC: “That’s on our list of 50 different items we’re bringing to the president for a decision. That’ll be something we’re looking at.”
The Trump administration has been scrambling to respond to the respiratory illness COVID-19, which has sickened at least 1,200 throughout the US in recent weeks. US officials have placed increasingly stringent restrictions on travel and commerce in a bid to contain the spread, slowing economic activity across the nation and putting Wall Street and Main Street on edge.
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The discussions about the temporary suspension of student debt come just days after bipartisan senators moved to overturn a Trump administration policy that dramatically limited higher-education loan relief.
President Trump has also pushed for tax relief and targeted industry aid to soften the economic blow of COVID-19. While payroll tax cuts have fallen flat among key members of Congress, the White House has separately sought to reach a deal with Democrats on the expansion of paid sick leave and other economic measures.