Trump Says He'll Waive Student Loan Interest During Coronavirus National Emergency

On Friday (March 13), President Donald Trump declared a national emergency in a try to funnel relief more speedily to those affected by the coronavirus, he mentioned in a news conference in the Rose Garden at the White House.


“I am officially declaring a national emergency,” President Trump mentioned. “No resources will be spared, nothing whatsoever.”


The president assured that 5 million test kits could be obtainable by next week, although he added that he didn't think that could be needed. His plan includes drive-through testing capabilities, bolstered by Walmart, CVS, Target, and Walgreens who are all working with the administration to keep their stores open and dedicate parts of their parking lots for the drive-through testing abilities. He also announced an executive group that will wave interest in all student cash advances contained by federal corporations for the time being. Vice President Mike Pense restated that the nation would halt the admission of several European nationals into the United States. They are also ending all visits to nursing homes, except in end-of-life situations.


Earlier on Friday, House Speaker Nancy Pelosi outlined legislation that aims to prepare coronavirus testing free in the U.S. “We can only overcome this outbreak if we have an accurate determination of its scale and scope,” she said.


Trump mentioned in the press conference that this move will open up $50 billion of dollars in the fight to slow the spread of the pandemic. Countless states — including Arizona, Delaware, Florida, New York, Tennessee, and Washington — have already declared states of emergency. Major events, from the NBA to Coachella, have been canceled or postponed.


“This is a unprecedented public health situation and we can’t wait up until we’re in the middle of it to slow it down,” Washington Governor Jay Inslee said immediately after deciding to close schools down in his state. “We’ve got to get ahead of the curve. One main defense is to decrease the interaction of people in our lives.”


Trump's announcement comes days immediately after he gave a speech on Wednesday (March 11), in which he reported bans of foreign travelers from Europe for the next month and economic relief packages for workers and corporations dealing with the outbreak. Nevertheless, there was almost immediate backlash from his speech in part because of the misinformation he fueled. In response, both Democratic presidential candidates announced what the answer would look like in their own administrations.