USAToday reports that a handful of states have decided to go ahead and tax student loan forgiveness, Most states followed suit and didn’t impose taxes on student loan cancellations. But in the handful that do plan to tax forgiveness, borrowers should get ready so they’re not surprised this tax season or worse, face an audit. Which states will […]
New Student Loan SAVE Repayment Plan Offers the Best Deal Ever Offered
The Biden administration on Tuesday, August 22 announced the details of the best deal ever offered to federal government student loan borrowers who qualify for income-driven repayment (IDR), The Department of Education is now accepting applications for the “Saving on a Valuable Education” program or SAVE. The SAVE Plan replaces the Revised Pay As You Earn […]
Supreme Court Rejects Biden’s Student Loan Forgiveness Plan: Biden v Nebraska
The US Supreme Court has ruled, in Biden v Nebraska, that President Biden did not have the authority to cancel or reduce student loan debt. The court ruled that the administration does not have the authority to spend this much money without Congressional approval. The court held that the HEROES Act contained no language that […]
What’s happening with Student Loans? What you need to know now that student loan payments are resuming
There are two things going on with Student Loans: What Resumption of Student Loan Payments Means For You? The resumption of student loan payments in October will not only end inflation but may cause many Americans to think seriously about bankruptcy to get of other debts they may not be able to pay any longer […]
January 2023 Consumer Law Updates
Hello & Happy New Year! Welcome to the LegalConsumer Newsletter! Welcome to 2023. Here’s an update of what’s changed in 2022, and what’s coming in 2023, including: Obamacare 2023 Open Enrollment Changes in bankruptcy exemptions amounts in 2022 and 2023 The growing trend of electronic filing in the bankruptcy courts Student Loan relief program changes […]