Student Loan Relief for New Graduates

SUMMARY

This Idea Brief proposes to expand the ability of unemployed new graduates to temporarily defer their loan payments interest-free while they look for a job.

Recent college graduates are trying to enter the workforce during a time when unemployment is at record levels, and only one in five 2009 graduates had secured a job by the time they graduated. More than two-thirds of graduates left school with student loan debts, and they will soon be required to start repaying their student loans—with or without a job. This Idea Brief proposes to expand the ability of unemployed graduates to temporarily defer their loan payments interest-free on all of their student loans while they try to land their first job or work to get back on their feet after being laid off.

To read this Report, open the attached PDF