Trump Prepares Student Loan Executive Order

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Republicans and Democrats struggle to agree on a second stimulus. One of point of contention is that the GOP plan does not continue the student loan relief program. Its CARES ACT authorization runs out in September. On Thursday, President Trump suggested an executive order to extend it.

Key Republican, Sen. John Cornyn (R-Texas) supported extension. “With so much economic uncertainty, we can’t allow that provision to expire,” Cornyn said on Monday. “Student loan debt is a real and growing problem in our country, and families should never be in the situation where they’re sacrificing their basic needs just to make those student loan payments, especially during the time of a global emergency.”

The President tweeted, “Upon departing the Oval Office for Ohio, I’ve notified my staff to continue working on an Executive Order with respect to Payroll Tax Cut, Eviction Protections, Unemployment Extensions, and Student Loan Repayment Options.”

Later Thursday, the President told reporters that he would “probably” sign the executive order on Friday or possibly Saturday morning. “They’re being drawn now,” Trump said, speaking of the ongoing talks in Congress over coronavirus relief. “We’ll see what happens. It’s possible we’ll make a deal, but it’s also possible we won’t.”

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