Rep. Elise Stefanik (R-NY) introduced new bipartisan congressional legislation that would expand protections for Perkins student loan borrowers who are excluded under the Cares Act, the $2.2 trillion financial stimulus package.

The COVID-19 Perkins Loan Relief Act would allow nearly 2 million student loan borrowers with Perkins loans to defer student loan payments through September 30, 2020.

“COVID-19 presented significant challenges and uncertainty…with student loan payments,” Stefanik said. “This bipartisan legislation closes a gap in the CARES Act and allows those with Perkins loans to defer payments until October as we recover from the COVID-19 crisis.”

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