The coronavirus aid, relief, and economic security act “cares act” (passed by congress on march 27, 2020) provides garnishment relief to some federal student loan borrowers until september 30, 2020. That could make a significant dent in a borrower’s total debt load, which averaged nearly $30,000 for the class of 2018. College Information And Guidance About Isac Illinois Student Assistance Commission Defaulted student loan borrowers have new rehabilitation options under the cares act. Cares act illinois student loans . Meaning, if you have these federal student loans you do not have to worry about making. The cares act temporarily suspends payments on the following student loans that are owned by the department of education (ed): The cares act provides pandemic relief for employers to help repay employee student loans through an amendment to section 127 of the irs code, extended through december 31, 2025. By kate vivian davis, jason r. Under cares act •the cares act allows ...