Help is on the way for Student Loans!

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According to Benefits Pro, the American Rescue Plan just passed in Congress includes benefits for student loan borrowers and non-borrowers.

Questions

  1. How do taxes impact student loan forgiveness?
  2. When colleges receive their allocations of the financial aid relief package, how should it be used?
  3. If you are a small business owner with a defaulted student loan, what type of relief does the stimulus package provide?

Source:

Napach, B. (2021). How the $1.9T stimulus package benefits student loan borrowers. Benefits Pro, March 16 (Retrievable online at https://www.benefitspro.com/2021/03/16/how-the-1-9t-stimulus-package-benefits-college-students-412-113293)