{"id":"FED-345","kind":"order","level":"federal","jurisdiction":"United States (Department of Education-held student loans)","state":"","metro":"","industry":"","agency":"","eco":"","issuer":"President Donald J. Trump (Memorandum for the Secretary of Education)","authority":"CARES Act § 3513; 20 U.S.C. § 1098bb (HEROES Act)","instrument":"Memorandum of August 8, 2020, Continued Student Loan Payment Relief During the COVID-19 Pandemic, 85 Fed. Reg. 49585 (Aug. 13, 2020)","title":"Continued Student Loan Payment Relief During the COVID-19 Pandemic","dateIssued":"2020-08-08","effective":"2020-10-01 through 2020-12-31 (continuing the CARES Act § 3513 suspension that ran Mar. 27 - Sept. 30, 2020).","end":"2021-09-30 under the Jan. 20, 2021 extension; further extended Aug. 6, 2021 (post-period ends in 2023)","startDate":"2020-10-01","endDate":"2021-09-30","quarters":["2020Q4","2021Q1","2021Q2","2021Q3"],"types":["OTHER"],"addressees":["the Secretary of Education","borrowers of Department-held federal student loans"],"clause":"Section 1. Policy.... [the CARES Act provided relief to borrowers affected] by COVID-19 by both suspending loan payments and temporarily setting interest rates to 0 percent.... Sec. 2. Extension of Student Loan Payment Relief. [The Secretary shall take action pursuant to applicable law to effectuate appropriate waivers of and modifications to the requirements and conditions of economic hardship deferments... and provide such deferments to borrowers... The Secretary shall continue the suspension] of payments and the waiver of all interest on student loans held by the Department of Education until December 31, 2020.","enforcement":"presidential directive; Department of Education administration","functions":["SV student-loan servicers (collections suspended)","CB consumer finances"],"notes":"Finance-layer context: federal student-loan collections were suspended by statute and then by presidential and departmental action for every day of the six quarters.","sourceUrl":"https://www.govinfo.gov/content/pkg/FR-2020-08-13/pdf/2020-17897.pdf","snapshot":"","fileExists":true,"fileBytes":178844,"grade":"primary","character":"","description":"","collection":"FED-B","url":"/library/FED-345","exhibitUrl":"/exhibit/FED-345","citation":"President Donald J. Trump (Memorandum for the Secretary of Education), Memorandum of August 8, 2020, Continued Student Loan Payment Relief During the COVID-19 Pandemic, 85 Fed. Reg. 49585 (Aug. 13, 2020) (Aug. 8, 2020) (Ex. FED-345)","stateName":"","related":[]}