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You paid interest on a qualified student loan in tax year 2023. You’re legally obligated to pay interest on a qualified student loan. Your filing status isn’t married filing separately.
Some welcome news for student loan borrowers: House lawmakers introduced a bill in Congress last month to expand the existing student loan interest deduction from $2,500 in annual interest to $10,000.
Starting in October, federal student loan borrowers need to start making payments toward their loans otherwise they may face consequences, like a hit to their credit score.
FedNow was scheduled to begin formal certification of participants of the program in April 2023, with a formal launch planned in July 2023. [8] [9] [10] It operates on a 24-hour, 365-days-a-year basis, [11] as opposed to the older FedACH system that is closed on weekends and holidays.
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...
As part of the student loan forgiveness plan, there is a clause specifying: “If you made voluntary payments during the payment pause — from March 13, 2020, through Dec. 31, 2022 — and your ...
If you are unsure who services your loan, or if the servicer changed during the pandemic, visit your student aid account dashboard and scroll to “my loan servicers” or call 1-800-433-3243.
The Federal Reserve is on track to launch an instant payment service called FedNow between May and July of 2023, allowing settlement of U.S. payments in seconds and potentially negating the need ...
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