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The Biden administration just changed the rules for student loan forgiveness : NPR
U.S. Education Secretary Miguel Cardona appeared along with President Biden when he announced his university student financial loan reduction approach on Aug. 24. On Thursday, the administration quietly modified its steerage all around which borrowers qualify for this relief. Evan Vucci/AP hide caption toggle caption Evan Vucci/AP U.S. Education Secretary Miguel Cardona appeared along with President Biden when he announced his student mortgage reduction plan on Aug. 24. On Thursday, the administration quietly transformed its direction close to which debtors qualify for this reduction. Evan Vucci/AP In a exceptional reversal that will have an effect on the fortunes of numerous scholar financial loan debtors, the U.S. Office of Schooling has…
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Student loan borrowers in 7 states may be taxed on their debt cancellation : NPR
When federal student loan borrowers take a breath from celebrating the cancelation of some or all of their federal student loans, millions of them could be in for a nasty surprise: While President Biden’s sweeping student debt relief won’t be subject to federal income tax, in seven states borrowers may have to pay state income tax on all those canceled loans. Before 2021, student debt cancelation was generally considered a form of income, and therefore taxable both at the federal and usually state level. But in March of 2021, the American Rescue Plan changed that, at least temporarily: Until the end of 2025, Congress said, the U.S. government will not…
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Examining 3 of the arguments of the student loan forgiveness debate : NPR
Student loan borrowers stage a rally in front of The White House on Aug. 25 to celebrate President Biden cancelling student debt. The plan has sparked heated debate, including about its economic fairness. Paul Morigi/Getty Images for We the 45m hide caption toggle caption Paul Morigi/Getty Images for We the 45m Student loan borrowers stage a rally in front of The White House on Aug. 25 to celebrate President Biden cancelling student debt. The plan has sparked heated debate, including about its economic fairness. Paul Morigi/Getty Images for We the 45m President Biden’s plan to forgive hundreds of billions of dollars in student debt is sparking heated debate. Biden last…
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Elon Musk says he won’t buy Twitter : NPR
Elon Musk arrives for the 2022 Met Gala at the Metropolitan Museum of Art on May 2, 2022, in New York. Angela Weiss/AFP via Getty Images hide caption toggle caption Angela Weiss/AFP via Getty Images Elon Musk arrives for the 2022 Met Gala at the Metropolitan Museum of Art on May 2, 2022, in New York. Angela Weiss/AFP via Getty Images Elon Musk wants to break off his agreement to buy Twitter. In a letter to the company, filed Friday with the Securities and Exchange Commission, Musk accuses Twitter of making “false and misleading representations” about the prevalence of fake accounts on its platform. He says the company has not…
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Racist Juneteenth sign at Maine insurance agency sparks backlash online : NPR
People in Millinocket, Maine, say they are outraged soon after an insurance coverage agency shown a racist indicator remarking on the new Juneteenth federal holiday break. Lisa Groelly conceal caption toggle caption Lisa Groelly Citizens in Millinocket, Maine, say they are outraged following an insurance policies company exhibited a racist indicator remarking on the new Juneteenth federal getaway. Lisa Groelly Residents in the town of Millinocket, Maine, say they are outraged and unhappy after a area insurance policies agency displayed a racist signal remarking on the Juneteenth holiday. Progressive and Allstate are terminating their relationships with the agency, according to associates of the insurance policies firms. “Juneteenth ~it really is…
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Senate approves Joint Consolidation Separation Act for student loan borrowers : NPR
Senator Mark Warner in 2021. Graeme Jennings-Pool/Getty Pictures disguise caption toggle caption Graeme Jennings-Pool/Getty Photos Senator Mark Warner in 2021. Graeme Jennings-Pool/Getty Photos The Senate has permitted a proposal that would allow debtors trapped with scholar loan financial debt connected to a wife or husband or ex-husband or wife to separate those people loans. For several, it could also open up a route to acquiring their loans erased as element of a federal personal loan-forgiveness program. If authorised by the Home and signed by President Biden, the laws would shut a loophole created in the 1990s that allowed married partners to consolidate their pupil financial loans for a reduce fascination…
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