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The action doesn’t affect student loans issued by private lenders, just the ones directly from the federal government. But private loans make up less than 10% of total student loan debt in the U.S.
Here’s what the California Franchise Tax Board says: “Forgiveness of student loan debt is generally taxable unless it meets one of the exclusions in California Revenue and Taxation Code ...
"Student loans that are forgiven after Dec. 31, 2020, and before Jan. 1, 2026, will not be taxed on a federal return, but for state income tax, there are some exceptions," Kathy Pickering, chief ...
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...
Student loan debt in California has topped more than $148 billion, and Sacramento wants to help. A new program created by California's consumer protection agency aims to provide free, personalized ...
Per the most recent figures from the Office of Federal Student Aid, over 50% of borrowers (25.5 million) have loans in forbearance as of September, 2022, with 2.8 million borrowers in deferment as ...
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Those who did not receive Pell Grants but make less than $125,000 as individuals or less than $250,000 as a married couple are eligible for $10,000 in student loan debt forgiveness. Your income is ...