Posts from August 2022.
Posted in Tax Law
Federal Student Loan Repayment Pause Extended Through December 31, 2022

The U.S. Department of Education announced on August 24, 2022, a final extension of the pause on student loan repayment, interest and collections through December 3️1, 2022.

The Department will provide student debt cancellation to borrowers with loans held by the Department of Education.

Eligible borrowers are those with annual income of either (1) under $125,000 (for individuals) or (2) under $250,000 (for married couples or heads of households).

If an eligible borrower received a Pell Grant in college, then that borrower will be eligible for up to $20,000 in debt cancellation.