Student Loan Forgiveness


Eligible Loans

The planned student loan debt relief will provide up to $20,000 in debt cancellation to Pell Grant recipients and up to $10,000 in debt cancellation to non-Pell Grand recipients on loan balances that originated before June 30, 2022. 

Eligible loans include:

  1. William D Ford Federal Direct Loan Program loans
  2. Federal Family Education Loans (FFEL) Program loans
  3. Federal Perkins Loan Program loans
  4. Defaulted loans (subsidized Stafford, unsubsidized Stafford, parent PLUS, graduate PLUS, and Perkins loans)

If you're unsure whether your loans are eligible for forgiveness visit, for more information.

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Income Requirements 

Tax Filing Requirements

2020 and 2021 Adjusted Gross Income

Did not file taxes

Made less than the required income to file federal taxes


Under $125,000

Married Filing Separately

Under $125,000

Married Filing Jointly

Under $250,000

Head of Household

Under $250,000

Qualifying Widow(er)

Under $250,000

Forgiveness Application:

Applications must be submitted by December 31st, 2023. However, eligible individuals are encouraged to apply for forgiveness as soon as possible. Once the application is submitted, the Department of Education will determine eligibility. If the application is accepted, a loan servicer will notify you that your request has been processed.

Forgiveness Application

IRS Backlog

The IRS continues to make progress on the unprocessed income tax returns, including amended 1040s and quarterly employer returns. As of September 30th, there were 5.8 million outstanding returns-- 1.7 million that need correcting and 4.1 million paper returns that require manual processing. 

If you're still waiting for a refund, the IRS is instructing taxpayers to continue using the Where's My Refund tool.

Employee Retention Credit Scams

Have you recently heard advertisements for the Employee Retention Credit? Although the advertisements may indicate that you're eligible for a "lucrative tax break," please be cautious. According to Browning at Accounting Today, these fraudulent claims may be one of the largest tax related scams in U.S. history. 

It's our job to protect you from scams like this. The process to determine whether your business is eligible for the credit is lengthy and dependent on many factors. Over the last two years, we've been working closely with our clients to determine eligibility. If you believe you may be eligible, we can discuss it with you. However, please be aware that although the advertisements you're hearing may sound promising, it's very possible that you may not qualify. 

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