AmeriCorps VISTA, AmeriCorps NCCC, or AmeriCorps State and National programs: Volunteers for these programs can receive up to the maximum Pell Grant award toward repaying qualified student loans (loans backed by the federal government) through the Segal AmeriCorps Education Award.19For the 2023–2...
Once your loans are forgiven, you won't owe anything else to the remaining balance. The Internal Revenue Service doesn't consider student loan debt forgiven through PSLF to be taxable income, as it does with some other types of loans. However, your state could still tax you. You may want...
The White House said in a statement that 8 million borrowers may be able to automatically get relief because their financial records and income data are already available to the Department of Education. "Thanks to the American Rescue Plan, this debt relief will not be treated as taxable income...
You can be eligible for federal student loan forgiveness in several different situations. For example, you may be eligible for student loan forgiveness if you teach in low-income areas, work for the government, or volunteer for AmeriCorps or the Peace Corps. The type of federal student loans ...
(aka, the Peace Corps). While it didn't pan out for me, that doesn't mean it's not a good option for you, particularly if you fit the description above and are in need of student loan forgiveness. And it doesn't end with the Peace Corps; there are AmeriCorps and many other ...
1. Income-driven repayment (IDR) plan forgiveness Depending on the type of income-driven repayment plan you’re on, you might be able to receive forgiveness of any balance remaining after 20 or 25 years. In most cases, this student loan forgiveness type is taxable at the federal level. How...