Up to $20,000 in Student Loan Cancellation is Here: But Will it Hurt Your Taxes?
by Kelley R. Taylor
Aug 24, 2022
3 minutes
President Biden made a long-awaited announcement Wednesday extending the more than two-year old pause on student loan payments through the end of this year. The Federal government will also provide student loan debt cancellation of up to $10,000 per borrower, within specific income limits, and up to $20,000 for Pell Grant recipients. To be eligible for forgiveness, the student loans must be held by the Department of Education.
The came August 24, a week before the current pause on student
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