Summary
A new bill, the HELP FEDs Act, has been introduced to help federal workers manage student loan payments during the government shutdown. The bill proposes to suspend loan payments and interest for affected workers, aiming to protect them from financial penalties.
Key Facts
- Representative Jasmine Crockett introduced the HELP FEDs Act to support federal workers during the government shutdown.
- The bill would suspend student loan payments and interest for furloughed workers or those working without pay.
- The purpose is to prevent penalties, defaults, credit damage, and increased debt for these workers.
- The government shutdown has lasted four weeks and involves disagreements between Republicans and Democrats.
- 750,000 federal workers have been furloughed due to the shutdown.
- If the bill becomes law, federal agencies will provide guidance to implement these protections quickly.
- 5.3 million U.S. student loan borrowers have not repaid on time, and 4.3 million are seriously behind.
