Student loan forgiveness could be taxable in some states
Student loan forgiveness could be taxable in some states
(NewsNation) — Those receiving student loan forgiveness would not be taxed federally, but some people could get taxed at the state level.
Last week, President Joe Biden announced student debt cancellations of $10,000 for those who earn less than $125,000. People who received Pell Grants can get $20,000 forgiven.
Under the American Rescue Plan, the federal government will not tax student loan…