Will Your State Tax Your Canceled Student Debt?

Several states are poised to collect income taxes on student loan forgiveness — a move that could leave some borrowers owing as much as $1,000 during tax season. Individuals in Indiana, Mississippi and North Carolina will almost certainly pay state income taxes on their forgiven federal student loans, according to representatives of those states’ revenue … Continued

College-Bound Grads May Share $40K in Debt With Their Parents

This year’s high school graduates could take on nearly $40,000 in student loan debt in pursuit of a bachelor’s degree, according to a NerdWallet analysis. And with this debt stretching across federal, parent and private loan sources, the final cost of their education will grow far beyond tuition and fees. Today, it’s nearly impossible to … Continued

Are You At Risk of Student Loan Default?

Student loan default starts the same way for everyone: a missed payment. Then, another. And another. Until nine total months — about 270 days — pass and your loan defaults. Three months later, it gets much worse. A debt collection agency now holds your debt, and you owe them the total balance of your loan along … Continued

Balancing Hopes, Dreams and a Low-Paying College Major

Humanities majors are more than a punchline. Not everyone can or wants to be a STEM major, and the world would be a poorer place if they were. To have great things to read, music that inspires, perspectives that challenge us — to have a sense of reward and meaning in life —  we must … Continued

How Much You’ll Really Pay for That Student Loan

Those who graduate college with student loans owe close to $30,000 on average, according to the most recent data from the Institute for College Access & Success. But they’ll likely repay thousands more than that because of interest. One key to limiting interest cost is choosing the right repayment plan. The bottom line? Opting for lower … Continued

6 Things to Know About Student Loans Before You Start School

The summer before your freshman year in college means choosing classes, checking out your future roommate’s Instagram and figuring out how you’re going to pay the bills. Chances are you will need a loan: 2 out of 3 students have debt when they leave school, according to 2017 graduate data from the Institute for College … Continued

Will Inflation Be Good for Student Loan Borrowers?

Student loan borrowers are taking to social media to celebrate inflation. That’s right, inflation: the sound-the-alarm scourge to consumers everywhere that’s hiking the price of goods and services. Over the last year, prices have risen 6.2% — the largest annual increase in three decades, according to October data from the Bureau of Labor Statistics. Student … Continued

Student Loan Forgiveness: What’s Getting Fixed?

A limited waiver announced by the U.S. Department of Education is expected to immediately wipe the slate clean for 22,000 student borrowers seeking Public Service Loan Forgiveness and speed the process for at least 500,000 more. It’s not the broad student loan forgiveness borrowers may be dreaming of. Instead, it’s the latest example of the … Continued

What Would It Take to Solve the Student Debt Crisis?

The possibility of federal student loan forgiveness grabs all the headlines. But experts say no single policy — not even wiping the slate clean for millions of borrowers — solves the root causes of the nation’s $1.74 trillion student loan debt crisis. That debt has been fueled by decades of wages not keeping up with the … Continued

College, Interrupted: The Case for Going (Back) to School

A cautionary note for the high school classes of 2020 and 2021: Waiting to enroll in college decreases the likelihood you’ll ever attend or complete a degree. It’s a valid concern for both cohorts. Due to the pandemic, undergraduate enrollment was down 2.5% in fall 2020 and down 4.5% for spring 2021, compared with the … Continued