Getty Images Biden recently announced student-debt relief for over 800,000 borrowers on income-driven repayment. The American Rescue Plan said debt relief will not be subject to federal taxes through 2025. While most states adopted the same guidance, some states could tax the latest relief. Student-loan forgiveness is starting to hit thousands of borrowers' accounts — but it might be subject to a state tax.On Monday, President Joe Biden's Education Department announced it was beginning to discharge student loans for 804,000 borrowers as a result of a one-time account adjustment for borrowers on income-driven repayment plans.

BING NEWS:
  • Biden cancels student loan debt for thousands of borrowers
    President Joe Biden's administration announced on Friday another $4.28 billion dollars in student loan relief for nearly 55,000 public service workers. The announcement brings the total loan ...
    12/21/2024 - 3:17 am | View Link
  • More Student Loan Forgiveness Is on the Way for PSLF Borrowers. What's Next for Debt Relief?
    The Biden-Harris administration just announced another wave of student loan debt relief for borrowers in the PSLF program.
    12/20/2024 - 8:34 am | View Link
  • Biden Cancels Nearly $4.3 Billion In Student Loan Debt—Here’s Who Qualifies
    The Biden administration estimates about $180 billion in student loan debt has been forgiven for nearly 5 million Americans.
    12/20/2024 - 2:36 am | View Link
  • 54,900 student-loan borrowers are getting $4.28 billion in debt wiped out a month before Trump takes office
    President Joe Biden announced student-loan forgiveness for borrowers in Public Service Loan Forgiveness. Relief will likely stall under Trump.
    12/19/2024 - 9:00 pm | View Link
  • Student Loans: Biden Pushing New Rules to Forgive Debt for 31M Borrowers
    Altogether, if approved, Biden will see student loan forgiveness for 31 million more borrowers. The new student loan forgiveness plans will need to be formally reviewed by the Office of Management and ...
    12/19/2024 - 11:07 am | View Link
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