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The federal government is trying to make sure eligible borrowers are able to get credit for payments made under the Public Service Loan Forgiveness program.
Due to a temporary change in the law, student loan forgiveness is not considered federally taxable income. State tax laws vary, though.
According to PitchBook, there’s been nearly $1.2 billion invested in student loan management startups in the past year.
Obligations resuming after three years could be a rude awakening for some. But by itself, it’s not likely to start a recession, experts say.
There are still options for borrowers, despite the defeat of Biden’s cancellation plan. The new SAVE repayment plan is one of them.
It’s part of a one-time fix by the Biden administration to the income-driven repayment program for federal student loans.
A new law set to go into effect next year would allow you to double your money when you pay student loans.
Student loan payments will resume this fall, but a new study from TransUnion shows that many people have taken on new debt in the meantime.
Fewer loans means less consumer spending, and less consumer spending means lower inflation.
More than 800,000 U.S. borrowers should see relief.