President Donald Trump is ordering changes to the Public Service Loan Forgiveness program that would disqualify workers of nonprofit groups deemed to have engaged in “improper” activities.
While canceled or reduced loans are generally tax-free at the federal level, you may face hefty tax bills in 19 states.
Delinquency rates soar
The president signed an order that would deny loan forgiveness to workers for groups engaged in “substantial illegal activities,” which it indicated included things like diversity initiatives.
President Trump seeks to dismantle the Department of Education. Here's how it would affect existing student loans in Ohio.
If you're enrolled in any income-driven repayment plan and reach the end of your repayment term, Rubin said you'll be placed in an interest-free forbearance period until the court offers a final ruling on student loan forgiveness.
Key student loan and aid programs may be eliminated or restructured if Trump follows through with cutting the Department of Education.
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