Therefore, primarily based on Michigan’s statutory conformity to the IRC — which excludes student loan forgiveness from gross revenue beneath IRC 108(f)(5) — student loan forgiveness will not be subject to earnings tax in Michigan. Because this exclusion will be reflected in federal AGI that is used as the beginning point of t… Read More

Most private loan programs are tied to financial indexes such as the Wall Street Journal Prime price or the BBA LIBOR price, plus an overhead charge. Students and households with exceptional credit commonly get reduce prices and smaller loan origination fees than those with poorer credit histories. Accrued interest is added to the loan quantity, an… Read More