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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 ...
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 ...
Forgiving the first $10,000 in student loan debt for those who earn up to $125,000 will cost taxpayers an estimated $300 billion, according to the University of Pennsylvania’s Penn Wharton ...
The court injunctions impacting the SAVE plan come at a time when many borrowers were already experiencing issues with their student loan payments – which resumed last fall after a three-plus ...
Almost 670,000 Californians were enrolled in the SAVE program as of April, according to the White House.
For some people, that refund will be automatic. You can get a refund without applying if your payments brought your loan balance below the maximum debt relief amount: $10,000 for all borrowers ...
A recent analysis from the California Policy Lab and the Student Loan Law Initiative found that if the payment pause had ended after May 1, about 7.8 million borrowers — roughly one in three ...
Providing $5,250 a year in student loan relief – or about $437 a month – would be welcome news to borrowers struggling to pay down their debt. About 48 million borrowers have student loan debt.