Do I Have to Pay Taxes on Student Loan Debt Forgiveness?
If you received student loan forgiveness and live in North Carolina, you'll pay a flat state income tax rate of 4.5% on your canceled debt for 2024. That means you'd owe approximately $450 in taxes for your loan debt.
Student Debt Forgiveness Update: Two More Options Reopening to Borrowers
While Biden's SAVE plan is in a state of uncertainty as it faces court challenges, two other income-driven repayment plans will reopen for borrowers.
Here's what to know about Trump and the future of student loan relief
President-elect Donald Trump has called the Biden administration's student loan relief efforts a "total catastrophe."
Student Loan Debt Relief Has Been A 'Lifeline' For Borrowers, Survey Says
KEY TAKEAWAYS The COVID-19 federal student loan payment pause helped many borrowers during the depths of the pandemic, according to a news survey from the government's consumer finance watchdog.After payments restarted in 2023,
What Trump's second term could mean for student debt in Texas
About 2.34 million borrowers' location is not reported; Map: Alex Fitzpatrick/Axios President-elect Trump could do away with his predecessor's years-long efforts to erase student debt. Why it matters: Collectively,
What Donald Trump's election means for student loan holders
As Donald Trump prepares to return to the White House, millions of Americans who were counting on the government to forgive their student loan debt are now worried they may be left without any relief.
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Student Loan Forgiveness And Insolvency: Avoid The Tax Bomb
The student loan debt tax bomb can happen when you have to pay taxes on the student loan forgiveness you received. However, most people will avoid the tax bomb due to a tax process called ...
President Joe Biden has forgiven over $166 billion in student debt—see how much in each state
Fixes to existing forgiveness programs and a brief window under the new SAVE program allowed President Biden to forgiven $166 billion in student debt.
Student-loan borrowers can expect 2 of Biden's key debt relief efforts to face roadblocks under Trump
President-elect Donald Trump is unlikely to continue Biden's student-debt relief efforts, from the SAVE plan to broad loan forgiveness.
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Study Shows Impact of Student Debt, Forgiveness
Even though student loan forgiveness has been in the spotlight throughout President Joe Biden’s term, not much is known about ...
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Financial relief options for international entrepreneurs with US tax debt
Struggling with U.S. tax debt as an international entrepreneur? Learn about relief options, IRS initiatives, and practical guidance on payusatax platform.
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Trump's win brings uncertainty to borrowers hoping for student debt forgiveness
a debt she was hoping to see reduced by President Joe Biden's student loan debt forgiveness efforts. Her payments are ...
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SafewayTax Offers Lifeline to Americans Struggling with Tax Debt
With an increasing number of Americans overwhelmed by tax debt, many are searching for a way out of their financial hard ...
Do health care workers qualify for Student Loan Forgiveness? This are the eligibility requirements
Healthcare professionals have served tirelessly, especially during the pandemic, and many are searching for student loan ...
Biden To Reopen 2 Student Loan Forgiveness Paths In December Under Interim Rule
The Biden administration is preparing to reopen access to two critical programs in December that would provide additional ...