President Joe Biden‘s student loan forgiveness plan will soon cancel debt for millions of Americans — and the relief is tax-free on federal returns. However, experts say the cancellation may sti...
Tag: Student
Scammers leverage student loan forgiveness, FTC says. Here’s how to protect yourself
President Biden this week announced a long-awaited plan to forgive student debt for millions of borrowers — and criminals will likely leverage the news to steal from unsuspecting victims, the Federal ...
Student Debt Forgiveness May Be Taxable in More Than a Dozen States
(Bloomberg Law) — The billions in student loan debt forgiveness announced by the Biden Administration will be exempt from federal taxation but could be taxable at the state level in more than a ...
Who qualifies for Biden’s ‘unprecedented’ $20,000 student loan forgiveness? When will cancellation occur? Here’s what we know so far
Do you have questions about the student loan relief plan the Biden administration unveiled on Wednesday? Please email them to reporter Alicia Adamczyk at [email protected]. On Wednesday, aft...
President Joe Biden to Pardon Student Loans Up to $20,000
Senator Ben Sasse, Republican of Nebraska, said the plan “forces blue-collar workers to subsidize white-collar graduate students”. United States President Joe Biden made an important announcement on W...
White House Slams Republicans Who Criticized Student Debt Relief But Received PPP Loans
Topline The White House caused a stir on Twitter Thursday afternoon by calling out several Republican lawmakers who criticized President Joe Biden’s move to forgive up to $20,000 in student loan...
How President Biden linked a $15 minimum wage to student loan reform
Fast-food workers and supporters fight to raise the minimum wage to $15 an hour. James Leynse | Corbis Historical | Getty Images The Biden administration seems to have pegged a student loan policy ann...
Biden canceled billions in student debt, but what he plans to do next could have an even bigger impact
Biden canceled billions in student debt, but what he plans to do next could have an even bigger impact With billions of dollars of student debt cleared from the books, millions woke up today to a diff...
Student Loan Forgiveness Plan Won’t Make Inflation Worse—Even If It Adds $400 Billion To Deficit, Goldman Says
Topline President Joe Biden’s historic plan to forgive up to $20,000 in student loans for millions of borrowers quickly drew criticism for potentially threatening to tack on to inflation that...
Borrowers currently in college are eligible for Biden’s $10,000 in student loan forgiveness
College classrooms around the country are celebrating as President Joe Biden announced Wednesday that current students will be eligible for $10,000 in federal student loan debt forgiveness. Though spe...
How to apply for student loan forgiveness
Loan forgiveness is shown using a text / Credit: Getty Images/iStockphoto President Biden made a massive student loan debt relief announcement on Wednesday, revealing he’s canceling up to $20,00...
What is it? Why it matters in student loan repayment.
Future student borrowers will also get some relief from the Biden administration’s federal student loan forgiveness plan. That relief will come in smaller and more manageable monthly payments. The pla...
Dennis Porter suggests alternative student loan forgiveness program using Bitcoin
Satoshi Action Fund CEO Dennis Porter proposed a radical alternative to President Biden’s student debt forgiveness plan. Instead of forgiving $10,000 in student debt, Biden should have given each pers...
Progressives Praise Biden’s Student Debt Cancellation As GOP And Moderates Voice Concern
Topline President Joe Biden’s decision Wednesday to cancel at least $10,000 of federal student loan debt for most borrowers was welcome news for progressives, who touted it as the culmination of...
Do I qualify for student loan forgiveness? What to know about Biden’s debt plan.
LIFE OFF PAUSE: How the student loan payment pause changed people’s lives President Joe Biden confirmed Wednesday what many have anticipated for months – a plan to forgive or reduce student loan debt ...
Student Loan Websites Crash After Biden Announces Debt Relief
Topline Scores of student loan borrowers reported they were unable to access their loan details Wednesday after President Joe Biden announced his long-awaited student debt forgiveness plan, which appa...
How to Claim Your Student Loan Forgiveness
The Biden administration is canceling a portion of federal student loan debt. Stefani Reynolds/AFP/Getty Images Text size The Biden administration is canceling a portion of federal student loan debt a...
Biden to Forgive $10,000 in Student Debt, Double for Pell Grant Recipients
(Bloomberg) — President Joe Biden announced a sweeping package of student-debt relief that forgives as much as $20,000 in loans for some recipients, a move he said would help a generation “saddl...
Will Biden’s Student Loan Relief Plan Boost Inflation?
President Joe Biden speaks about student loan debt forgiveness in the Roosevelt Room of the White … [+] House, Wednesday, Aug. 24, 2022, in Washington. Education Secretary Miguel Cardona listens...
A millennial who paid off $100K in student loans just months before Biden announced forgiveness says the president should ‘forgive all of it’
There was no confetti. No congratulations or fanfare of any kind. No one cheered for Steve, a 36-year-old software engineer in Texas, when he woke up at 6 a.m. on March 15, 2022, and made his final st...
What $10,000 in student loan forgiveness means for your tax bill
The good news for borrowers? An estimated 43 million Americans with student loan debt will have $10,000 wiped away from their balances. The even better news? The debt relief is tax-free. As President ...
These student loans are not eligible for forgiveness
Not all student loans are eligible for forgiveness. / Credit: Getty Images/iStockphoto Federal student loan borrowers may be getting some relief soon, as President Biden outlines his official plan to ...
Student Loan Forgiveness And How To Balance Debt Against Your Other Financial Goals
Biden cancels student loans for millions. Getty Images Key Takeaways Biden has canceled student loan debt for millions and extends loan payment pause. Borrowers should consider the loan’s interest rat...
As Biden cancels up to $20,000 of student debt, some groups want more
Student loan borrowers gather near The White House to tell President Biden to cancel student debt on May 12, 2020. Paul Morigi | Getty Images Entertainment | Getty Images President Biden’s long-...
Key events on the path to student loan forgiveness
A woman holds a sign during an Occupy Wall Street rally against the high cost of college tuitions April 25, 2012 in New York. Don Emmert | Afp | Getty Images For the millions of Americans with student...
What Forgiving Student Loan Debt Could Mean for the Economy
Nearly 44 million people collectively owe $1.7 trillion in federal student loans. Forgiving some or all of it would cost taxpayers hundreds of billions of dollars. Stefani Reynolds/AFP/Getty Images Te...
Forgiving $10,000 in student loan debt would cost the U.S. $300 billion, according to new analysis
If the Biden administration forgives $10,000 in federal student loan debt for borrowers within a certain income cap, it would cost approximately $300 billion, according to a new analysis. No details o...
Top economist Larry Summers recommends a way for Biden to forgive trillions in student debt—and it echoes what Sen. Elizabeth Warren says
A day after criticizing any effort by the Biden Administration to forgive student loan debt, former Treasury Secretary Larry Summers has offered an alternative. “I think the best way to relieve studen...
White House Expected to Announce Plan to Cancel Student Debt
President Joe Biden is expected to announce his plan for student debt relief on Wednesday, according to multiple reports. Although details have yet to be confirmed by the White House, the Biden admini...
What Biden’s reported student debt cancellation plan could mean for borrowers
The question on millions of student loan borrowers’ minds will likely be settled Wednesday, when the Biden administration is expected to announce broad-based student debt relief. Though borrowers wil...