Under the new plan, borrowers who earn less than roughly $30,600 a year would owe $0 a month on their federal student loans, effectively pausing them. A borrower who’s in a family of four and makes less than roughly $62,400 would also see their payments paused.
Free and discounted tax preparation resources are available to Pennsylvanians looking to save money and avoid headaches this tax season. In addition, some new tax rules are in effect which can potentially help taxpayers save money.
In the past week, two separate courts controlled by conservative judges have ruled against the Biden administration’s plan to cancel tens of thousands of dollars in federal student loan debt for millions of borrowers, putting that relief in jeopardy.