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If your student loans were forgiven last year, what does that mean for your tax bill?

Feb 15, 2024
Due to a temporary change in the law, student loan forgiveness is not considered federally taxable income. State tax laws vary, though.
Anyone who received forgiveness in 2023 or gets it in the next two years doesn’t have to worry about federal taxes.
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What you need to know about President Biden's new student loan forgiveness plan

Nov 3, 2023
While the Department of Education is focusing debt relief on five broad categories, the finalized details of the plan are still being ironed out.
President Joe Biden's new student loan forgiveness plan is still in its early stages, so whether it will include full or partial forgiveness is unclear.
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Older people also face student loan debt burden with payments looming

Much attention is paid to younger borrowers, and rightfully so. But some 3.5 million Americans 60 and older hold substantial debt.
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More than 800,000 people are getting student loans forgiven

Sep 5, 2023
It's part of a one-time fix by the Biden administration to the income-driven repayment program for federal student loans.
Last spring, the Biden administration announced a one-time fix to rectify what the education secretary called “years of administrative failures” with the income-driven repayment program.
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What the debt ceiling deal means for your student loans

Jun 2, 2023
A debt ceiling deal has been made, and student loan borrowers will have to start making payments again later this summer.
President Joe Biden’s student loan forgiveness plan is awaiting a decision by the Supreme Court.
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Why is it so hard for Congress to deal with the national debt?

Apr 20, 2023
Reining in our debt amid the debt ceiling battle would require big — and painful — changes to government spending and taxation.
House Speaker Kevin McCarthy's terms for lifting the debt ceiling would limit discretionary spending, roll back some tax credits, end student loan forgiveness and repeal additional IRS funding, among other things.
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Federal student aid office has a big to-do list in 2023, but the same budget

Dec 29, 2022
The office will have to manage student loan forgiveness — if that clears Supreme Court challenges — and the resumption of loan payments after a pandemic pause.
The Supreme Court will hear challenges to the administration's student debt forgiveness policy in February.
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A window is closing for government, nonprofit employees to get student loans forgiven

Oct 27, 2022
A federal program used to reject most applications. But a Biden administration waiver has allowed forgiveness for $14 billion in loans.
Among the Biden administration's policies affecting student loan holders is a temporary waiver easing requirements for the Public Service Loan Forgiveness program.
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