Tag: Federal Student Loans

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The Extra Bonus of the Student Loan Repayment Pause through May 1, 2022

Jill Yoshikawa, Ed M, Partner of Creative Marbles Consultancy / March 3, 2022

Since March 2020 and extending through May 1, 2022, payments and interest on all Federal education loans, both student loans and Parent PLUS loans have been suspended as parts of various COVID-related economic relief policies. Borrowers have not been obligated to send payments, and for anyone already behind in their payments, no additional penalties have…

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Deferred Student Loan Payments and Interest May Diminish Tax Deduction

Jill Yoshikawa, Ed M, Partner of Creative Marbles Consultancy / February 23, 2021

Starting in March 2020, first former President Trump, then President Biden have automatically suspended accrual of Federal student loan interest, as well as deferred student loan repayment for every borrower. According to Federal tax law, all borrowers can claim a deduction of the student loan interest paid during the previous tax year. Yet given the…

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