"Delaware State University announced it will cancel up to $730,655 in student loan debt for recent graduates who have struggled financially during the COVID-19 pandemic," Fox 5 reports.
..."The tax measure was adapted from the Student Loan Tax Relief Act spearheaded by Sens. Bob Menendez, D-N.J., and Elizabeth Warren, D-Mass. On March 6, Warren tweeted, 'This clears the way for President Biden to #CancelStudentDebt without burdening student borrowers with thousands of dollars in unexpected taxes.'
Experts say the tax relief measure could do just that.
'Given the context and all the discussions about loan forgiveness, I think it’s likely that this is a nod from Congress to open up this door,' says Megan Coval, vice president of policy and federal relations at National Association of Student Financial Aid Administrators."
NASFAA's "Notable Headlines" section highlights media coverage of financial aid to help members stay up to date with the latest news. Articles included under the notable headlines section are not written by NASFAA, but rather by external sources. Inclusion in Today's News does not imply endorsement of the material or guarantee the accuracy of information presented.
Publication Date: 5/15/2021