Washington • Sen. Mitt Romney has introduced legislation to allow college students graduating this year to defer their student loans for up to three years.
Romney, R-Utah, said the move could help students trying to get a job in an economy struggling because of the novel coronavirus crisis.
“Students graduating from college this year are suddenly facing significant hurdles entering the workforce,” Romney said.
The legislation builds on the efforts by the White House to suspend federal loan payments for up to 60 days.
“We must further ease the burden on students by allowing them to defer their payments until the economy regains normalcy,” Romney said.
Students who graduate from college in the 2020 calendar year would be eligible under Romney’s plan with an option for the secretary of the Department of Education to extend the deferment to students in 2021 and 2022 if the economy has not recovered.