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On August 24th, President Biden announced his administration’s plans to cancel up to $20,000 in federal student loans in his three-part plan to ease the burden of student debt, stemming in part from the pandemic-caused economic crisis. While this policy will help many and we are excited to see movement on alleviating the overwhelming student debt crisis in the U.S., it falls short of the original promise to forgive all student loan debt and we still believe it is not enough. We will continue advocating to ensure all of our members receive the relief they need to be free from student debt. We’re here to break it down for you and tell you everything you need to know about the debt cancellation program. Who Qualifies?
Are Independent Contractors Eligible?
What Student Loans are Eligible for Debt Forgiveness?
Will You have to Pay Taxes on the Cancelled Debt?
When and Where Can You Apply?
How Will This Change Student Loan Payments Going Forward?
What is Income-Driven Repayment?
What is the Limited-Time Public Service Loan Forgiveness Program?
Find More Informationvia Freelancers Union Blog https://blog.freelancersunion.org/2022/08/26/what-freelancers-need-to-know-about-president-bidens-student-loan-relief-program/
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AuthorI have 5+ years experience working as a medical transcriptionist. When I am not working, I enjoy sports like playing basketball or judo. I love making friends and connections. Archives
April 2023
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