Will the Government Forgive Your Student Loans?
What You Need to Know About Student Loan Forgiveness
According to BENZINGA, Millions of Americans who owe money for college are waiting to see if the government will help them. The Education Department is working on a plan to forgive some of this debt. This plan uses a law from 1965 to help people who borrowed money to go to college. It’s a big deal because many people are struggling to pay back their loans.
The department is talking with other groups and asking for feedback from the public before making a final decision. When the plan is ready, the department will send an email to people who owe money telling them what they need to do. Some people might choose not to take advantage of the plan because they worry about paying taxes on the forgiven debt. Once they make this choice, they can’t change their minds later.
Breaking News: Government Plan to Forgive Student Loans
This plan could help millions of people who are struggling to pay off their student loans. In the past, the government tried to help some people pay off their loans, but it was blocked by courts. Now, the department is trying again and hopes to make it happen soon.
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