Here's a new wrinkle on loan forgiveness

[Mik]

Sad because my daughter is in NC and stands to get $10K relieved. That said, I'm still against the bailout.

https://www.msn.com/en-us/money/personalfinance/north-carolina-says-it-will-tax-biden-s-student-loan-forgiveness-and-3-more-states-are-likely-to-follow-suit/ar-AA11oaho?ocid=msedgntp&cvid=28a84d597283419b9569672c5af10ad3

[jon-nyc]

Mississippi already announced too.

One presumes it’s only at normal state income tax levels? Say 3-4%? So your daughter might owe the state $3-400? Not the end of the world.

[LuFins Dad]

@Mik said in Here's a new wrinkle on loan forgiveness:

Sad because my daughter is in NC and stands to get $10K relieved. That said, I'm still against the bailout.

https://www.msn.com/en-us/money/personalfinance/north-carolina-says-it-will-tax-biden-s-student-loan-forgiveness-and-3-more-states-are-likely-to-follow-suit/ar-AA11oaho?ocid=msedgntp&cvid=28a84d597283419b9569672c5af10ad3

I'm guessing Luke will be eligible. I've not seen anything restricting it to students that have graduated or left school. I discussed it with him and told him that while I am personally against the program and do not expect it to pass legal challenges, he absolutely should apply.

[Mik]

Once the act is done doing otherwise is foolish. However, if she decided not to apply for that reason I would respect it.