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The Department of Education announced on Aug. 14 that automatic discharges would begin for 804,000 borrowers who qualify for $39 billion in student loan relief due to fixes to income-driven ...
Providing $5,250 a year in student loan relief – or about $437 a month – would be welcome news to borrowers struggling to pay down their debt. About 48 million borrowers have student loan debt ...
Borrowers whose student loans were forgiven in 2023 may owe state taxes. President Biden has forgiven more than $136 billion in student loan debt for over 3.7 million borrowers. The debt relief ...
In the United States, student loans are a form of financial aid intended to help students access higher education. In 2018, 70 percent of higher education graduates had used loans to cover some or all of their expenses. [ 1] With notable exceptions, student loans must be repaid, in contrast to other forms of financial aid such as scholarships ...
The student loan forgiveness plan isn’t expected to trigger any income tax consequences on federal returns, mainly because the American Rescue Plan of 2021 made student loan forgiveness tax-free ...
In an analysis of Biden’s first debt-relief program, the Committee for a Responsible Federal Budget estimated that after a one-time cancellation of about $500 billion of debt, the total amount ...
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