Posts Tagged: student loan forgiveness

Help is on the way for Student Loans!

Posted by & filed under Accounting Information Systems, Accounting Principles, Advanced Accounting, All Articles, Auditing, Cost Accounting, Financial Accounting, Income Taxes, Intermediate Accounting, Managerial Accounting, Uncategorized.

According to Benefits Pro, the American Rescue Plan just passed in Congress includes benefits for student loan borrowers and non-borrowers. Questions How do taxes impact student loan forgiveness? When colleges receive their allocations of the financial aid relief package, how should it be used? If you are a small business owner with a defaulted student… Read more »

To Forgive is Divine But Impossible

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A program intended to wipe away the student loans of qualifying public servants has rejected more than 99 percent of those who applied, according to a government audit that found that “fragmented” management and “piecemeal” operating instructions had contributed to the failure to forgive more debt. Questions: 1. What does the Education Department say is… Read more »

Sweet Betsy from Pike

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In a break with Obama administration policy, Education Secretary Betsy DeVos announced in December that some students cheated by the now-defunct schools would only get a part of their federal student loan forgiven. In order to determine how much to forgive, the agency analyzes average earnings of graduates from similar programs. Questions: 1. What did… Read more »