Sec. 150114. Extending the length of borrower relief due to the coronavirus emergency
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Section 3513 of division A of the Coronavirus Aid, Relief, and Economic Security Act ( Public Law 116–136 ) is amended— by amending subsection
(a)to read as follows: During the period beginning on March 13, 2020, and ending on September 30, 2021, the Secretary or, as applicable, the Secretary of Health and Human Services, shall suspend all payments due on Federal student loans. For one additional 30-day period beginning on the day after the last day of the suspension period described in subsection (a), the Secretary or, as applicable, the Secretary of Health and Human Services, shall ensure that any missed payments on a Federal student loan by a borrower during such additional 30-day period— do not result in collection fees or penalties associated with late payments; and are not reported to any consumer reporting agency or otherwise impact the borrower’s credit history. By not later than 60 days after the date of enactment of the HEROES Act, the Secretary or, as applicable, the Secretary of Health and Human Services, shall, for each Federal student loan defined in subparagraph
(B)or
(C)of section 3502(a)(2)— determine the amount of principal due on such loan (or that would have been due in the absence of being voluntarily paid by the holder of such loan) during the period beginning March 13, 2020, and ending on such date of enactment; and refund the amount of principal calculated under subparagraph (A), by— paying the holder of the loan the amount of the principal calculated under subparagraph (A), to be applied to the loan balance for the borrower of such loan; or if there is no outstanding balance or payment due on the loan as of the date on which the refund is to be provided, providing a payment in the amount of the principal calculated under subparagraph
(A)directly to the borrower. In this paragraph, the term principal includes any late charges or fees. A borrower who is repaying a Federal student loan pursuant to in an income-contingent repayment plan under section 455(d)(1)(D) of the Higher Education Act of 1965 ( 20 U.S.C. 1087e(d)(1)(D) ) or an income-based repayment plan under section 493C of such Act ( 20 U.S.C. 1098e ) shall not be required to recertify the income or family size of the borrower under such plan prior to December 31, 2021. ; in subsection (c), by striking part D or B of title IV of the Higher Education Act of 1965 ( and inserting 20 U.S.C. 1087a et seq.; 1071 et seq.) part B, D, or E of title IV of the Higher Education Act of 1965 ( ; 20 U.S.C. 1087a et seq.; 1071 et seq.; 1087aa et seq.) in subsection (d), by striking During the period in which the Secretary suspends payments on a loan under subsection (a), the Secretary and inserting During the period in which payments on a Federal student loan are suspended under subsection (a), the Secretary or, as applicable, the Secretary of Health and Human Services ; in subsection (e), by striking During the period in which the Secretary suspends payments on a loan under subsection (a), the Secretary and inserting During the period in which payments on a Federal student loan are suspended under subsection (a), the Secretary or, as applicable, the Secretary of Health and Human Services ; and in subsection (f), by striking the Secretary and inserting the Secretary or, as applicable, the Secretary of Health and Human Services, .
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Sec. 150114
Extending the length of borrower relief due to the coronavirus emergency
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