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Message: <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>

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