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.
