Today is the day that APSCUF, the faculty union at IUP, will host an online presentation on the findings of a Morning Consult survey focusing on student loan debt and the accumulated debt at the time of graduation.
APSCUF President Dr. Jamie Martin says the study shows that borrowers are struggling with debt, and that they lack clear resources to inform them of major changes that could help them such as the CARES Act. That program was established by the federal government to help those who are struggling with financial burdens during the pandemic.
The CARES Act suspends payment requirements for federally-owned student loans until September 30th, and drops the interest rate to zero during that period, meaning that if a student chooses to make payments while the deferment in in effect, all of that payment goes directly toward principle.
APSCUF says there is strong bipartisan support to extend the payment relief for another full year, through September of 2021.
Today’s APSCUF presentation is from 2 to 3 PM, and will be followed tomorrow at 5 PM by a virtual discussion by State Treasurer Joe Torsella and two state lawmakers.
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