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Student loans

Have student loans? Want forgiveness? An important deadline is coming up.

by Samantha Fields
Apr 26, 2024
Certain federal loan holders must consolidate by April 30 to qualify through Income-Driven Repayment and Public Service Loan Forgiveness.
The Education Department is reviewing more than 40 million federal student loan accounts and granting credit for years of past payments that previously didn’t count toward forgiveness.
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Biden cancels $5.8 billion in student debt for public service workers

by Stephanie Hughes
Mar 22, 2024
The federal government is trying to make sure eligible borrowers are able to get credit for payments made under the Public Service Loan Forgiveness program.
Under the Public Service Loan Forgiveness program, eligible borrowers like teachers make student debt payments for a certain number of years and the rest should be forgiven. That hasn't always happened though.
Daniel Leal/AFP via Getty Images
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If your student loans were forgiven last year, what does that mean for your tax bill?

by Samantha Fields
Feb 15, 2024
Due to a temporary change in the law, student loan forgiveness is not considered federally taxable income. State tax laws vary, though.
Anyone who received forgiveness in 2023 or gets it in the next two years doesn’t have to worry about federal taxes.
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As student loan payments resume, private sector sees an opportunity

by Stephanie Hughes
Oct 9, 2023
According to PitchBook, there’s been nearly $1.2 billion invested in student loan management startups in the past year.
After not having to deal with student debt for more than three years, many people are feeling anxious about repayments.
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As student loan payments restart, borrowers feel the pinch. The economy might too.

by Henry Epp
Oct 2, 2023
Obligations resuming after three years could be a rude awakening for some. But by itself, it's not likely to start a recession, experts say.
The return of student loan obligations probably won’t tip us into a recession, but millions of Americans will feel the financial pinch, said Shannon Seery of Wells Fargo.
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Which student loan relief plan makes the most sense for you?

by Janet Nguyen
Sep 20, 2023
There are still options for borrowers, despite the defeat of Biden’s cancellation plan. The new SAVE repayment plan is one of them.
While the Biden administration wasn't able to strike down $20,000 in student loan debt, one change it's pushing is a reformed repayment plan.
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More than 800,000 people are getting student loans forgiven

by Samantha Fields
Sep 5, 2023
It's part of a one-time fix by the Biden administration to the income-driven repayment program for federal student loans.
Last spring, the Biden administration announced a one-time fix to rectify what the education secretary called “years of administrative failures” with the income-driven repayment program.
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Pay off student loans, or save for retirement? Both.

by David Brancaccio , Erika Soderstrom and Alex Schroeder
Jul 28, 2023
A new law set to go into effect next year would allow you to double your money when you pay student loans.
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Are Americans ready to start paying student loans again?

by Samantha Fields
Jul 24, 2023
Student loan payments will resume this fall, but a new study from TransUnion shows that many people have taken on new debt in the meantime.
More than 40 million people have federal student loans, and payments will resume this fall after a multiyear hiatus.
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It's getting harder to obtain loans. That's exactly what the Fed wants.

by Stephanie Hughes
Jul 18, 2023
Fewer loans means less consumer spending, and less consumer spending means lower inflation.
"Most people's financial wiggle room is pretty small, even before they have to start repaying their student loan," said Matt Schulz at LendingTree.
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