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Retiring without debt is the dream, but this isn't always feasible. According to the Federal Reserve, Americans age 60 and up carry around $126.6 billion in student loan debt alone -- that's way...
When you have student loans, saving for retirement can feel like some far off dream you only aspire to. ... and your student loan interest payments may be tax-deductible if your adjusted gross ...
The Tax Foundation, an independent tax policy nonprofit, noted in a column last week that some states might consider student loan debt forgiveness a taxable event, meaning borrowers would have to ...
Don’t let student loans derail your retirement plans.
The American Rescue plan exempted student loan forgiveness from taxes through 2025, but not all states followed suit. Borrowers whose student loans were forgiven in 2023 may owe state taxes [Video ...
One of the hot topics after the Biden administration unveiled its student loan forgiveness plan last week was how canceled debt might impact borrowers' income tax returns. The details are still not...
The bankruptcy and the insolvency provisions defer the tax to a time when taxpayer is able to pay. The farm indebtedness provision, on the other hand, represents a political decision to subsidize farmers by offering a tax benefit. The student loan exclusion for those who do certain types of work is designed to maximize that benefit.
Although borrowers were granted a stay of student loan payment since the start of the pandemic in March of 2020, many vulnerable borrowers will struggle to pay their bills when payments resume on...