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The One Big Beautiful Bill eliminates income-driven repayment for new Parent PLUS loans after July 1. With processing taking up to 8 weeks, March is the last practical window to act.
Student loan forgiveness under income-driven repayment plans is once again considered taxable income as of January 1, 2026. Here's what borrowers need to know.
Nearly one in four student loan borrowers is now delinquent, the SAVE repayment plan is being shut down affecting 7 million borrowers, and most debt forgiveness will be taxed as income starting in 2026.
The New York Fed reports total household debt delinquencies climbed to 4.8% in Q4 2025, the highest since 2017, with mortgage, auto, and student loan defaults concentrated among lower-income borrowers.
The New York Fed's latest household debt report reveals total borrowing hit $18.8 trillion in Q4 2025, with credit card balances at a record $1.28 trillion and delinquency rates surging among younger borrowers.
The Biden-era SAVE student loan repayment plan has been terminated, loan forgiveness is now taxable income, and a new RAP plan launches in July 2026. Here is what 8 million affected borrowers should do right now.
As of January 1, 2026, federal student loan forgiveness through income-driven repayment plans is now subject to federal income tax. Here's what borrowers need to know about this major change.
The temporary federal tax exemption for student loan forgiveness has expired. Borrowers on income-driven repayment plans could face surprise tax bills when their debt is canceled.
The temporary exemption making student loan forgiveness tax-free has expired. Borrowers qualifying for income-driven repayment forgiveness in 2026 could face tax bills of $10,000 or more.
As of January 1, 2026, student loan forgiveness through income-driven repayment plans is taxable again. Borrowers with $57,000 in forgiven debt could face a $12,000 tax bill.
The New York Fed reports credit card balances reached a record $1.28 trillion in Q4 2025. Delinquencies hit the highest level since 2017, with low-income borrowers bearing the brunt.
The New York Fed reports credit card balances have hit $1.28 trillion with 7.1% in serious delinquency, matching early Great Recession levels. Lower-income and younger borrowers are bearing the brunt.