Education
‘No one wants to be the state taxing student loan forgiveness.’ Here’s where borrowers may see a bill
dmphoto | E+ | Getty Images There’s good news if you’re eligible for student loan forgiveness: It won’t trigger a federal tax bill. And while some may still owe state taxes, it may be fewer borrowers than expected. It depends on whether and when states conform to federal tax laws, including the American Rescue Plan […]
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Education Department cancels $1.5 billion in student debt for 79,000 borrowers subjected to ‘false promises’ by Westwood College
Tero Vesalainen | Istock | Getty Images The U.S. Department of Education on Tuesday announced it will cancel all remaining federal student debt for former students of the now-defunct for-profit Westwood College, delivering $1.5 billion in relief to 79,000 borrowers. The cancellation covers students who attended any location of Westwood College, including online programs, from […]
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Do you make too much for student loan forgiveness? Here’s how to figure out whether you qualify
If you’re one of the millions of Americans with student loans, President Joe Biden’s forgiveness plan may be welcome relief. However, there are some key things to know about the income limits, experts say. Biden will cancel $10,000 for most borrowers or up to $20,000 for Pell Grant recipients, limited to those making less than […]
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These 13 states may hit borrowers with up to $1,100 in state tax liability on forgiven student loans. How to know if your debt cancellation will trigger a bill
President Joe Biden’s student loan forgiveness plan will soon cancel debt for millions of Americans — and the relief is tax-free on federal returns. However, experts say the cancellation may still trigger a state tax bill. Most borrowers making less than $125,000 per year or $250,000 for married couples filing together will qualify for $10,000 […]
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Scammers are making use of college student mortgage forgiveness as bait, FTC warns. Right here are recommendations to shield yourself
Critical Details President Biden introduced a approach to forgive up to $20,000 in federal college student personal debt for borrowers who received a Pell Grant and up to $10,000 for all those who didn’t, underneath specific earnings boundaries. Scammers will likely leverage the information to defraud unsuspecting debtors. This is what to know to prevent […]
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President Biden used university student personal loan reform to ‘push the thought that $15 should really be the bare minimum wage,’ pro states. Here’s how
Vital Factors President Joe Biden mentioned Wednesday that the federal government would forgive up to $20,000 in federal university student financial loans for each borrower. He also proposed reforms to money-pushed reimbursement designs. One particular improve with regards to “non-discretionary” revenue is joined to a $15 hourly minimum amount wage. The White Residence and numerous […]
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President’s student loan forgiveness program draws pushback from some lawmakers and customer groups
Important Details President Biden said Wednesday that the White Household would forgive up to $10,000 in federal scholar debt for each man or woman for most debtors, and up to $20,000 for Pell Grant recipients. Some client groups and lawmakers hailed the transfer whilst also declaring that far more help is needed. Source
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Biden cancels $10,000 in federal college student financial loan personal debt for most borrowers
President Joe Biden on the South Lawn of the White Dwelling on July 12, 2022. Chip Somodevilla | Getty Images News | Getty Pictures President Joe Biden announced Wednesday that he will forgive $10,000 in federal student financial debt for most borrowers, satisfying a marketing campaign pledge and providing economical relief to thousands and thousands of […]
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Former Obama White House aide Seth Andrew sentenced to year in prison for charter school theft scheme
Seth Andrew Wikimedia Commons Former Obama White House education advisor Seth Andrew was sentenced Thursday to a year-and-one-day in federal prison for a scheme to steal $218,000 from a New York charter school network he founded. Andrew, 43, also was fined $5,000 at his sentencing in U.S. District Court in Manhattan. He was arrested in […]
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How to buy your first car without going broke
Buying your first car after graduation (or while you’re still in college) can be tricky — especially at a time like this when prices are soaring. The average price of a new car was $46,000 in June and the average price of a used car was $28,000, both up more than 20% since the start […]
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