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<blockquote data-quote="tikkalover" data-source="post: 347371" data-attributes="member: 600"><p><span style="color: #000000"><span style="font-family: inherit">And for those who have private loans, such as through the Bank of North Dakota, this loan forgiveness plan will not be helping you.</span></span></p><p><span style="color: #000000"><span style="font-family: inherit"></span></span></p><p><span style="color: #000000"><span style="font-family: inherit">“Loans held through the bank of North Dakota are issued and guaranteed by the state. And so, the loans held by the <span style="font-family: inherit"><a href="https://bnd.nd.gov/studentloans/" target="_blank">Bank of North Dakota</a></span> are not eligible for the loan forgiveness,” said Kelvin Hullet, the chief business development officer at the Bank of North Dakota.</span></span></p><p><span style="color: #000000"><span style="font-family: inherit"></span></span></p><p><span style="color: #000000"><span style="font-family: inherit">Hullet says in order for state-funded loans to be forgiven, it would have to be up to the state.</span></span></p><p><span style="color: #000000"><span style="font-family: inherit"></span></span></p><p><span style="color: #000000"><span style="font-family: inherit">“For private loans, such as those held by the Bank of North Dakota to be forgiven, would require legislation to be passed by the North Dakota legislature,” said Hullet.</span></span></p><p></p><p><span style="color: #000000"><span style="font-family: inherit">However, this extra cash in your pocket will come with a catch in some places.</span></span></p><p><span style="color: #000000"><span style="font-family: inherit"></span></span></p><p><span style="color: #000000"><span style="font-family: inherit">13 states have already come forward to say borrowers may be hit with up to $1,100 in taxes on forgiven student loans.</span></span></p><p><span style="color: #000000"><span style="font-family: inherit"></span></span></p><p><span style="color: #000000"><span style="font-family: inherit">These states will count this “canceled debt” as income for students.</span></span></p><p><span style="color: #000000"><span style="font-family: inherit"></span></span></p><p><span style="color: #000000"><span style="font-family: inherit">North Dakota is not one of these states, but Minnesota is.</span></span></p></blockquote><p></p>
[QUOTE="tikkalover, post: 347371, member: 600"] [COLOR=#000000][FONT='inherit']And for those who have private loans, such as through the Bank of North Dakota, this loan forgiveness plan will not be helping you.[/FONT][/COLOR] [COLOR=#000000][FONT='inherit'] “Loans held through the bank of North Dakota are issued and guaranteed by the state. And so, the loans held by the [FONT=inherit][URL="https://bnd.nd.gov/studentloans/"]Bank of North Dakota[/URL][/FONT] are not eligible for the loan forgiveness,” said Kelvin Hullet, the chief business development officer at the Bank of North Dakota.[/FONT][/COLOR] [COLOR=#000000][FONT='inherit'] Hullet says in order for state-funded loans to be forgiven, it would have to be up to the state.[/FONT][/COLOR] [COLOR=#000000][FONT='inherit'] “For private loans, such as those held by the Bank of North Dakota to be forgiven, would require legislation to be passed by the North Dakota legislature,” said Hullet.[/FONT][/COLOR] [COLOR=#000000][FONT='inherit']However, this extra cash in your pocket will come with a catch in some places.[/FONT][/COLOR] [COLOR=#000000][FONT='inherit'] 13 states have already come forward to say borrowers may be hit with up to $1,100 in taxes on forgiven student loans.[/FONT][/COLOR] [COLOR=#000000][FONT='inherit'] These states will count this “canceled debt” as income for students.[/FONT][/COLOR] [COLOR=#000000][FONT='inherit'] North Dakota is not one of these states, but Minnesota is.[/FONT][/COLOR] [/QUOTE]
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