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As we enter a pivotal phase in the landscape of federal student loans, borrowers who have previously defaulted are now facing the resurgence of collection activities—a stark reality that had been paused for nearly five years. The confluence of renewed collection efforts, including wage garnishment and the offset of social security benefits, echoes concerns reminiscent
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The Biden administration has recently unveiled an expansive student loan forgiveness initiative that aims to alleviate the financial burden for over 150,000 borrowers. This announcement, which comes as President Biden prepares to conclude his time in office, underscores the administration’s commitment to addressing the student debt crisis plaguing many Americans. With an estimated $4.2 billion
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As the Internal Revenue Service (IRS) grapples with increased scrutiny from a Republican-led Congress, a noteworthy revelation has surfaced from the National Taxpayer Advocate. Erin Collins, the current advocate, presented her annual report in which she highlighted a concerning trend: the disproportionate allocation of funds between taxpayer services and enforcement measures. The report points to
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As we enter 2024, countless borrowers are grappling with the potential impacts of student loan forgiveness on their taxes. Under President Joe Biden’s administration, substantial strides have been made in alleviating the student debt crisis, with nearly $180 billion in federal student loans canceled for around 4.9 million borrowers. A remarkable development occurred in 2024,
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In 2024, the cryptocurrency landscape has undergone a dramatic transformation, with Bitcoin emerging as a standout performer, experiencing an unprecedented price surge. This 125% jump in value, which brought Bitcoin’s price to approximately $94,000 from around $40,000, has created a wave of fascination and excitement among investors. However, amidst this euphoria, financial experts urge caution.