Loan Forgiveness Question
My daughter is 20 years old, lives at home, goes to school full time and works part time. The past 2 years she has claimed herself on taxes, so we do not claim her; she has even received all the stimulus checks etc. Will she be eligible for the loan forgiveness $10000? Her student loans are a federal loan, solely in her name . I’m just not sure if it will go off of her income alone or our income as a household since she lives at home (I know for FFSA they go off our (parents) income, so that’s why I’m not sure for this . If it is off of our income too, I’m assuming it will be hers, mine and my husband’s all together? Then, what year income are they going off of to determine eligibility?
Terry Says
If she is not a dependent on your tax return, the forgiveness will depend on her income only. But they haven’t said whether they will forgive loans for students still in school, or only after graduation. I expect that detail to come out shortly.
