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 bankru…
At a Glance: Discretionary income and student loans have a significant impact on each other. Understanding their connection is crucial for managing loans. Discretionary income, the money left after essential expenses, can be used to speed up loan repayment and explore refinancing options. It also al…
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 implication…
At a Glance: Across the U.S., various states offer distinct loan forgiveness programs for pharmacists. 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, while Mi…
At a Glance: In Arizona, the average student loan debt 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 …
At a Glance: In Louisiana, the average student loan debt hovers around $33,823, slightly above the national average. This varies across cities, with New Orleans and Baton Rouge notably impacted. The state offers various loan repayment programs, including federal income-driven plans and forgiveness o…
At a Glance: In Maryland, the average student loan debt is $39,505, with 60% federal loans and 40% private loans. High tuition fees at prestigious universities contribute to the debt. Maryland offers various loan repayment programs, like the Janet L. Hoffman LARP and John R. Justice Grant. Maryland …
At a Glance: Indiana offers student loan forgiveness through programs like the Richard M. Givan LRAP for public service workers. Law schools, like Indiana University Maurer and Notre Dame, have their own loan assistance programs. Ensure eligibility, apply with necessary documents, and don’t fo…
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 opportuniti…
At a Glance: Loan forgiveness can carry tax consequences. While the IRS often taxes canceled student debt, loans forgiven between 2021 and 2025 are federally exempt due to the American Rescue Plan Act. However, states differ: by 2023, Indiana, North Carolina, and Mississippi will tax these loans, wh…