Published 2 years ago

Some states might tax Biden's student loan debt relief

Summary by Ground News

Some states tax forgiven debt as income, which means borrowers who are still paying down student loans could owe taxes on as much as $10,000 or even $20,000 that was taken off their bill. In Mississippi, Minnesota, Wisconsin, Arkansas and North Carolina, forgiven student loans will be subject to state income taxes unless they change their laws.

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Real Clear Politics

Biden Admin's Student Debt Relief Is Just the First Step

Now that the president has canceled student debt once, he can do it again.

2 years ago·Chicago, United States

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Denver 7 News

Some states might tax Biden's student loan debt relief

Borrowers in five states are currently expected to pay state income tax on any student debt relieved by the government.

2 years ago·Denver, United States

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The Nation

President Biden’s Debt Relief Is Just the First Step

Now that the president has canceled student debt once, he can do it again.

2 years ago·Washington, United States

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Albert Lea Tribune

Some states could tax student loan relief - Albert Lea Tribune

MINNEAPOLIS — President Joe Biden’s student loan forgiveness plan could lift crushing debt burdens from millions of borrowers, but the tax man may demand a cut of the relief in some states. That’s because some states tax forgiven debt as income, which means borrowers who are still paying down student loans could owe taxes on […]The post Some states could tax student loan relief appeared first on Albert Lea Tribune.

2 years ago

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Finance & Commerce

Some states may tax student loan forgiveness

President Joe Biden's student loan forgiveness plan could lift crushing debt burdens from millions of borrowers, but the tax man may demand a cut of the relief in some states.

2 years ago

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communityq.com

The cheap pandering of student loan forgiveness

Struggling for relevancy, Joe Biden just announced he is going to forgive some student loan debt. This is an insult to anyone who paid off his or her college debt, or did not take on any, and got a real job.And if these freeloaders learned anything in college, they would know there is no such thing as a free lunch. Your debt did not go away; you just put it on someone else. That cannot be a source of pride for you. The age-old gimmick, “borrow…

2 years ago·Philadelphia, United States

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