Senate Democrats have plan to cancel student loan payments during crisis, payoff $10K on every loan

Democratic Sens. Chuck Schumer, Patty Murray, Sherrod Brown, and Elizabeth Warren unveiled an emergency student loan payment and relief plan Thursday morning. It would immediately cancel monthly student loan payments for the duration of the coronavirus emergency and provide a minimum of $10,000 to all federal students loan borrowers toward paying down their debt with the Department of Education assuming debt payments for the duration.

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