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Since he became president, Biden's Education Department has forgiven $138 billion in student loans for 3.9 million borrowers, according to the most recent data.
As millions of Americans prepare to submit applications for student loan forgiveness through the Biden administration's new program, the residents of seven The federal government won't tax your ...
"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 ...
The student loan forgiveness plan isn’t expected to trigger any income tax consequences on federal returns, mainly because the American Rescue Plan of 2021 made student loan forgiveness tax-free ...
One month before President Biden leaves the White House, the Biden administration announced it has forgiven student loan debt for 54,900 public service workers.
By law, tax-free benefits under an educational assistance program are limited to $5,250 per employee per year. Normally, the assistance provided above that level is taxable as wages.
If the U.S. Supreme Court upholds President Joe Biden's federal student loan forgiveness plan -- an unlikely scenario, according to legal experts -- borrowers in some states might have to pay state...
President Joe Biden began working on his revised student loan relief plan after the Supreme Court blocked its first program in June 2023. The updated policy targets several groups of borrowers for ...