student loan debt
Biden student debt relief plan met with skepticism from U.S. Supreme Court conservatives
WASHINGTON — The majority conservative wing of the U.S. Supreme Court appeared skeptical Tuesday that the Biden administration had the authority to implement a federal student debt relief program that was estimated to potentially aid millions of borrowers. The conservative justices, who hold a 6-3 majority on the court, questioned whether the Department of Education […]
Six GOP-led states win national injunction against Biden student debt relief plan
WASHINGTON — A federal appeals court on Monday issued a nationwide injunction indefinitely blocking the Biden administration’s student debt relief program in response to a challenge by six GOP-led states. The unanimous ruling by the 8th Circuit Court of Appeals in St. Louis came after the six states — Nebraska, Missouri, Arkansas, Iowa, Kansas and […]
Biden student debt relief plan thrown out by Texas judge; new applications halted
WASHINGTON — Late Thursday a federal judge in Texas struck down the Biden administration’s student debt relief plan, ruling that the program is unlawful, in a blow to 16 million student debt borrowers already approved for relief. The U.S. Department of Education now is no longer accepting applications for the program, according to the student […]
Biden student debt forgiveness plan on temporary hold after appeals court ruling
WASHINGTON — A federal appeals court on Friday temporarily blocked the Biden administration from carrying out its student loan forgiveness plan, until the court makes a determination on a request for an injunction brought by six Republican-led states, according to multiple media reports. The 8th U.S. Circuit Court of Appeals is giving the Biden administration […]
U.S. Senate candidates debate agriculture, immigration
Agriculture and the struggles of Arkansas’ rural communities were top of mind for U.S. Senate candidates who participated in a debate hosted by Arkansas PBS Friday afternoon. Agriculture is the state’s largest industry, adding about $16 billion to the state’s economy each year. However, farmers are struggling with higher costs this year. The war in […]
Missouri judge hears lawsuit challenging Biden student debt relief plan
Whether student debtors will get the loan relief promised by President Joe Biden is now in the hands of a Missouri federal judge. For nearly two hours Wednesday, attorneys for the six states challenging the plan to forgive almost $500 billion in student debt argued with Department of Justice lawyers over which laws should govern […]
State delays decision on student loan forgiveness tax status until 2023
A decision on whether student loan forgiveness will be taxable in Arkansas will have to wait a few more months. Last week, Arkansas officials said they had not yet decided if canceled student debt could be taxed. Following the release of President Joe Biden’s student loan forgiveness plan, the Tax Foundation reported Arkansas was one […]
Arkansas officials: No determination yet on tax liability for student loan forgiveness
Arkansas tax authorities haven’t yet decided whether borrowers must pay state income tax on canceled debt under President Joe Biden’s student loan forgiveness plan. Discharged debt is typically taxable as income. However, under the American Rescue Plan Act, student loan forgiveness between 2021 and 2025 is not subject to federal taxes. Arkansas is one of […]
Biden to wipe out $10,000 in student loan debt for many borrowers
WASHINGTON — President Joe Biden announced Wednesday that he will cancel up to $20,000 in federal student loan debt for Pell Grant borrowers and up to $10,000 for all other borrowers with an income of less than $125,000 for an individual and $250,000 for a household. Biden also announced his administration is extending a pause […]