Author: administración

The Treasury Department and the IRS on October 1, 2026, issued proposed and temporary regulations for the Education Freedom Tax Credit, a new tax credit created under Section 25F of the tax code by last year’s One Big Beautiful Bill Act. The rules confirm what the Education Freedom Tax Credit will look like when it launches on January 1, 2027: individual taxpayers can claim a dollar-for-dollar, nonrefundable credit of up to $1,700 for cash donations to approved Scholarship Granting Organizations (SGOs), and married couples filing jointly can claim up to $3,400. Treasury Secretary Scott Bessent called it “America’s first nationwide…

Key Points 1Federal law lists trusts as a reportable asset, and the Department of Education says a trust is the beneficiary’s asset even when the beneficiary can’t touch the money yet. 2Who reports the trust depends on its type. A revocable trust is the grantor’s asset and an irrevocable trust is the beneficiary’s. Student assets reduce aid by 20% on the FAFSA and 25% on the CSS Profile, versus up to 5.64% and 5% for parent assets. 3The exemptions are narrow: trusts restricted by court order, trusts with contested ownership, trusts the beneficiary may never receive, and trusts the beneficiary…

Federal income-driven repayment forgiveness became taxable again on January 1, 2026, when the American Rescue Plan Act exclusion expired. Congress has not extended it.Public Service Loan Forgiveness, death discharges, and disability discharges stay tax-free. The One Big Beautiful Bill Act made the death and disability exclusion permanent.If you reached your 240th or 300th qualifying IDR payment by December 31, 2025, your forgiveness is tax-free even if the Department of Education processed it in 2026. The short answer: it depends on which program forgave your loans and when you qualified. Forgiveness under an income-driven repayment plan that you reached in 2026…

Key Points Starting on or about October 1, 2026, Treasury will open a Trump account for every eligible child under 18 with a Social Security number, no parent action required. The move follows weak sign-ups: about 5.6 million Forms 4547 processed against 73.37 million eligible kids as of July 30, under 8%. Auto-opened accounts can only receive the $1,000 federal seed deposit if a parent files the tax-form election. The Treasury Department and IRS on September 29 released temporary regulations directing the Treasury Secretary to open a Trump account for every eligible child in the country, “on or about October…

by HopeI want to write about my hurt and my anger. I want to write about how unfair things are. But I can’t. I can’t write about something that would disparage someone else. I can’t write about my feelings because I’ve been told not to let how one is treated vs me to affect me by the person who’s done it.I can’t cause division. I can’t stand up for myself. I can’t tell my story, my side.And on the flip side, when someone disparages me, in front of them all, I just have to take it. I’m stuck and I…

Please enable JavaScript if it is disabled in your browser or access the information through the links provided below. September 30, 2026 Federal Reserve Board finalizes changes to enhance the transparency and public accountability of its stress test and reduce volatility in its stress test-related capital requirements For release at 9:00 a.m. EDT The Federal Reserve Board on Wednesday finalized changes to enhance the transparency and public accountability of its stress test and reduce volatility in its stress test-related capital requirements. The two final rules are largely similar to the proposed rules…

The U.S. Department of Education and the U.S. Department of the Treasury launched the Defaulted Loans Support Center on September 30, 2026, a new section of StudentAid.gov where borrowers with defaulted federal student loans can apply online to rehabilitate or consolidate their loans. According to the joint press release, the portal replaces “outdated websites and burdensome mail and fax-based processes” that have governed default resolution for decades. It is the first major borrower-facing product to come out of the ED-Treasury partnership that moved defaulted loan collections to Treasury earlier this year. The portal lives at studentaid.gov/default-support and uses a borrower’s…

Pay As You Earn (PAYE) is a federal income-driven repayment plan that caps your monthly student loan payment at 10% of your discretionary income and forgives whatever is left after 20 years of payments. It has been one of the two cheapest ways to repay federal student loans since 2012, and for borrowers with high balances relative to income it still is.It’s also going away. The One Big Beautiful Bill Act eliminates PAYE and Income-Contingent Repayment (ICR) no later than July 1, 2028, and anyone who took out a new federal loan on or after July 1, 2026 already lost…

Please enable JavaScript if it is disabled in your browser or access the information through the links provided below. September 29, 2026 Agencies publish resolution plan feedback letters for 15 banking organizations Federal Deposit Insurance Corporation Federal Reserve Board For release at 4:00 p.m. EDT The Federal Deposit Insurance Corporation and the Federal Reserve Board today published feedback letters for resolution plans submitted in October 2025. The agencies did not identify any shortcomings or deficiencies in these resolution plan submissions. Resolution plans, also known as living wills, describe a banking organization’s…

Abe Student LoansBefore applying for a private student loan, DR Bank and Monogram LLC recommend exhausting all financial aid alternatives including grants, scholarships, and federal student loans.The Abe® student loan is made by DR Bank, Member FDIC (“Lender”). All loans are subject to individual approval and adherence to Lender’s underwriting guidelines. Program restrictions and other terms and conditions apply. LENDER AND MONOGRAM LLC EACH RESERVES THE RIGHT TO MODIFY OR DISCONTINUE PRODUCTS AND BENEFITS AT ANY TIME WITHOUT NOTICE. TERMS, CONDITIONS AND RATES ARE SUBJECT TO CHANGE AT ANY TIME WITHOUT NOTICE.* In order to estimate your available rates and…