BOSTON (AP) — President Joe Biden should help those struggling under crushing student loan debt by immediately canceling up to $50,000 of debt for federal student loan borrowers, Democratic elected officials said Thursday.
The federal government’s pause on student loan payments is being extended to more than 1 million borrowers who have defaulted on student loans that are held by private lenders, the Education Department announced Tuesday.
The tax break on college debt cancellations in the COVID-19 relief package signed last week by President Joe Biden has removed a potential roadblock to forgiving student loan debt: taxes .
The coronavirus has dealt a financial blow to millions of Americans and now April's bills are coming due.
The good news is there is help available. Reach out immediately to your mortgage lender, student loan servicer or utility provider to see what's available.