A new Democrat-sponsored bill in the House of Representatives would allocate an additional $10.15 billion to American colleges and universities amid the ongoing coronavirus pandemic and economic crisis.
The funds would in addition to the $14 billion already distributed to colleges.
The Health and Economic Recovery Omnibus Emergency Solutions Act would allocate $10.15 billion to U.S. colleges and forgive up to $10,000 in student loan debt for private borrowers.
Even if the Democrat-sponsored legislation passes the House, however, it is virtually dead on arrival in the Republican-controlled Senate.
GOP lawmakers say that while additional action from Congress may be necessary eventually, it’s best now to wait to see the effects of the previous $2 trillion pumped into the U.S. economy back in March.