student loan debt

A diverse group of protestors hold signs calling for the cancellation of school loan debt

State delays decision on student loan forgiveness tax status until 2023

BY: - September 9, 2022

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 […]

A diverse group of protestors hold signs calling for the cancellation of school loan debt

Arkansas officials: No determination yet on tax liability for student loan forgiveness

BY: - August 29, 2022

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 […]

U.S. President Joe Biden and Education Secretary Miguel Cardona in the Roosevelt Room at the White House on Wednesday. Biden announced a plan to forgive some student loan debt.

Biden to wipe out $10,000 in student loan debt for many borrowers

BY: - August 24, 2022

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 […]