Student loan relief may be taxed in five states

Contributing sentiments towards policy:

52% : However, in Mississippi, the chairman of the state Senate committee in charge of taxes said he's willing to take a look when the Legislature convenes next year.
48% : In Mississippi, Minnesota, Wisconsin, Arkansas and North Carolina, forgiven student loans will be subject to state income taxes unless they change their laws to conform with a federal tax exemption for student loans, according to a tally by the Tax Foundation, a Washington, D.C.-based think tank.
45% : That's because some states tax forgiven debt as income, which means borrowers who are still paying down student loans could owe taxes on as much as $10,000 or even $20,000 that was taken off their bill.
34% :by signing up you agree to our terms of serviceMore than 40 million Americans could see their student loan debt cut or eliminated under the forgiveness plan Biden announced late last month.

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