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States confirm plan to tax student loan
handout funds

Original Article

Posted By: Moritz55, 9/9/2022 11:35:28 AM

Student loan borrowers across the country could soon see up to $20,000 of their student loan debt forgiven in the massive handout announced by President Biden – but it still may come at a cost. State tax may be charged on student loan handout funds. The tax laws vary from state to state. Former Mississippi State college student Dee Stegall said he recently found out he qualified to have $20,000 of his student loans forgiven. "I was very relieved to hear that that relief was coming from the federal government," Stegall said. But, he said that relief didn’t last. "Within 24 hours, those feelings get complicated, because then you realize

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Reply 1 - Posted by: SweetPea3 9/9/2022 11:44:28 AM (No. 1272971)
Paying the tax on $20K is still better than paying back the $20K.
15 people like this.

Reply 2 - Posted by: southernboy 9/9/2022 11:59:48 AM (No. 1272992)
"...According to ZipRecruiter, the average college graduate in Mississippi has been making just over $32,000 per year. "It’s not easy at all when you're, you know, you're trying to make ends meet and you're trying to build a life for yourself as a young person," Stegall said. ..." Welcome to the real world, Sweetheart! Paying taxes?....."Not for young people trying to build a life?" Ha!
18 people like this.

Reply 3 - Posted by: downnout 9/9/2022 12:03:07 PM (No. 1272994)
I love it. I hope employers will begin to look into the student loans of prospective employees. Any student who took out a loan and didn’t pay it back is a very poor choice for any company. Who would want an employee who refuses to honor his debt?
20 people like this.

Reply 4 - Posted by: Vesicant 9/9/2022 12:23:52 PM (No. 1273016)
Hey Steagall, where's my half caff double shot macchiato soy latte?
9 people like this.

Reply 5 - Posted by: udanja99 9/9/2022 12:29:15 PM (No. 1273026)
Well, Dee, guess what? Not only will you have to pay taxes on that $20k, you’ll be paying for it through your income taxes as well. Happy now?
7 people like this.

Reply 6 - Posted by: earlybird 9/9/2022 12:43:31 PM (No. 1273037)
Loans forgiven. Poor babies. Getting a windfall for not doing the right thing and they have to pay a pittance in taxes on it. Loathesome creatures.
8 people like this.

Reply 7 - Posted by: mc squared 9/9/2022 12:51:26 PM (No. 1273045)
For the 'students' with little or no income, there would be minimal or no penalty.
3 people like this.

Reply 8 - Posted by: rytwng 9/9/2022 12:53:43 PM (No. 1273048)
Maybe you shouldn't have taken out a loan. Do you make your rent payment and your car payment?
7 people like this.

Reply 9 - Posted by: Skinnydip 9/9/2022 1:23:51 PM (No. 1273079)
The article doesn’t state what his degree is in. Guess he thought basket weaving would pay more.
6 people like this.

Reply 10 - Posted by: thatsomewhereplace 9/9/2022 1:28:06 PM (No. 1273084)
Hee Haw! Best glass cleaner and sponge cleaning my So. These poor stupid people think they can get their debts forgiven? Yeah right. FJB is going to take tax payments out of that. Hudda thunk?
6 people like this.

Reply 11 - Posted by: columba 9/9/2022 2:10:25 PM (No. 1273110)
I paid my loans off and have papers. Do not let the FBI know this.
7 people like this.

Reply 12 - Posted by: learner 9/9/2022 2:28:52 PM (No. 1273125)
Relief does not come from the federal gov't. But from actual taxpayers. Every time I see gov't handouts I think hardworking Americans paying taxes to a bloated behemoth that has grown exponentially to encompass every aspect of our lives and never for the better.
6 people like this.

Reply 13 - Posted by: Gordon Mills 9/9/2022 2:36:23 PM (No. 1273129)
This is cool because they can acquire a criminal record and spend time in prison for not paying taxes where not repaying a loan has little consequence.
4 people like this.

Reply 14 - Posted by: bad-hair 9/9/2022 5:00:59 PM (No. 1273218)
Quick like a bunny. Move to Florida,
1 person likes this.

Reply 15 - Posted by: bobn.t 9/9/2022 6:45:38 PM (No. 1273286)
We'll pay that too.
1 person likes this.

Reply 16 - Posted by: Blackbird 9/9/2022 8:39:57 PM (No. 1273356)
Make these universities with multi billion dollar endowment funds be responsible for the student loans if the students default because they can’t get meaningful employment with their worthless degrees .
1 person likes this.

Reply 17 - Posted by: Oldenoughtoknowbetter 9/9/2022 9:59:27 PM (No. 1273384)
Once this practice is started, it will become a standard, forever thing. This poor guy thinks he is getting his debt reduced but doesn't realize yet that he will be paying for the rest of his life. Income tax was only supposed to be for a little while wasn't it?
2 people like this.

Reply 18 - Posted by: mifla 9/10/2022 6:50:09 AM (No. 1273496)
Tax the forgiven debt at a rate of 120%.
0 people like this.

Reply 19 - Posted by: anniebc 9/10/2022 5:54:07 PM (No. 1274010)
Government, they're there to help. What an evil enterprise.
1 person likes this.

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