Treasury Secretary Steve Mnuchin said Friday that a temporary suspension of student debt payments is part of a proposed economic stimulus package that the Trump administration is considering to help deal with the economic fallout from the coronavirus crisis.
Mnuchin said in an interview on CNBC’s “Squawk Box” that student debt relief is one of dozens of proposals that will be submitted to President Donald Trump as part of the relief package.
“I can tell you that’s on our list of 50 different items we’re bringing to the president for a decision. That will be something we’re looking at,” Mnuchin told CNBC’s Jim Cramer, who asked whether the administration is considering suspending debt payments for three months. (RELATED: Trump Approval Ratings Crash Amid Coronavirus Panic)
“We have lots of authorities,” Mnuchin added.
Trump instructed the Small Business Administration this week to offer low-cost loans to small businesses affected by coronavirus, and is considering a payroll tax cut that would suspend Social Security payments through the end of the year. The administration has also pushed back the April 15 deadline to file tax returns with the IRS.
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