The Education Department’s proposed rule could cancel entire student loan balances if borrowers are deemed to be facing ...
If the plan is finalized, the federal Education Department estimates that roughly 8 million student loan borrowers could be eligible for relief.
Thanks to the American Rescue Plan of 2021, student loan forgiveness is tax-free through 2025 on a federal level, though you may owe state taxes. Any negative payment history may remain on ...
The average student ... Repayment (IBR) Plan adjusts your payment amount according to your income and family size. Income-based repayment isn’t a traditional loan forgiveness program but you ...