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Administration officials continue to press their case that the loan forgiveness program is necessary to give borrowers financial relief before federal student loan repayments are set to resume in ...
Closed school discharge: If your school closed while you were attending (or soon after you withdrew), you may qualify to have your federal student loans discharged. Discharge options: You could ...
With its plan to cancel federal student loan debt for millions of borrowers still hung up in the courts, the Biden administration has set its sights on another way to provide debt relief. This...
With federal student loan payments set to resume in the summer of 2023 following a lengthy pause -- and the Biden administration's student loan forgiveness plan being debated before the Supreme ...
Even though borrowers have until Dec. 31, 2023, to apply for student loan forgiveness, many are not waiting to start the application process. By applying now, borrowers who received Federal Pell...
In March 2020, the CARES Act passed by Congress included a pause on federal student loans repayments and interest until September 30, 2020. [8] On August 8, 2020, the Trump administration issued a memorandum instructing the Secretary of Education to pause on student loan payments and interest through December 31, 2020 using the authority ...
At the time of borrowing, the loan proceeds did not have to be reported as income because there was an obligation to repay the lender. Forgiving that obligation makes those loan proceeds income. The lender is usually required to report the amount of the cancelled debt to the borrower and the IRS on a Form 1099-C, Cancellation of Debt. [4]
Here’s what you need to know about student loan forgiveness and the plans available for you
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