At a Glance Proving undue hardship for student loans is a challenging process. You must meet the strict criteria of the Brunner Test, demonstrating an inability to maintain a minimal standard of living, persistent financial difficulties, and good faith efforts to repay loans. Alternatives to bankrup…
At a Glance Understanding the tax implications of financial aid and student loans is crucial. While grants and scholarships are usually tax-free, work-study earnings and part-time job income are taxable. Student loans are generally not taxable, but loan forgiveness programs may have tax implications…
At a Glance Alaska, Arizona, California, and Colorado provide up to $90,000 in forgiveness for service in underserved areas. Programs in states like Idaho, Iowa, and Kentucky offer significant relief. Minnesota, Montana, Nebraska, New Mexico, North Dakota, Oregon, Rhode Island, Virginia, Washington,…
At a Glance The average student loan debt in Arizona is around $34,712, with significant variations across counties. Maricopa County, encompassing Phoenix, reports higher debts averaging $38,500 due to its dense concentration of higher education institutions. In contrast, Pinal County has a lower av…
At a Glance Average student loan debt in Maryland: $39,505 (60% federal, 40% private loans). Prestigious universities contribute to high tuition fees and student debt. Maryland offers repayment programs (Janet L. Hoffman LARP, John R. Justice Grant) and alternative solutions (SmartBuy, SmartWork). C…
At a Glance Indiana offers student loan forgiveness through programs like the Richard M. Givan LRAP for public service workers. Law schools, such as Indiana University Maurer and Notre Dame, have their own loan assistance programs. Ensure eligibility, apply with necessary documents, and explore fede…
At a Glance North Carolina offers several loan forgiveness programs for residents, including assistance for healthcare professionals, lawyers, and educators. National options like the John R. Justice Program and Public Service Loan Forgiveness also exist. Explore both state and national opportunitie…
At a Glance Loan forgiveness can carry tax consequences. The IRS often taxes canceled student debt, but loans forgiven between 2021 and 2025 are federally exempt due to the American Rescue Plan Act. States differ in their approach: by 2023, Indiana, North Carolina, and Mississippi will tax these loa…
At a Glance In New York, multiple loan relief programs are available. The Excelsior Scholarship covers tuition for eligible students. Recent graduates, legal professionals, social workers, nurse faculty, young farmers, teachers, doctors, and National Guard members can access varying amounts of loan …
At a Glance Ohio offers various student loan forgiveness programs tailored to professions like nursing, dentistry, and veterinary medicine. Programs include the John R. Justice Repayment Program for public defenders, the Ohio Dentist Loan Repayment for those serving underserved communities, and the …