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Tuesday, September 06, 2022

These 5 states could tax student loan forgiveness

Mississippi is the first state to confirm that residents there will be taxed on student loan forgiveness, and four other states could follow suit. 

President Biden’s student loan forgiveness plan would eliminate $10,000 in federal student loan debt for those with incomes below $125,000 a year, or households that earn less than $250,000. It would also cancel an additional $10,000 for those who received federal Pell Grants to attend college.

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I'm surprised Tennessee's not all over this. There's no State Income Tax, so they tax the hell out of everything else. Hell, we even have the second highest beer tax here - that's right, a beer tax.
You can read about that HERE