CNBC

IRS tax documents

IRS free tax filing program launches in 12 pilot states

While the pilot focuses on “simple tax situations,” the U.S. Treasury estimates the pilot could cover about one-third of tax situations for 19 million taxpayers. Within five years, the program could save the average filer $160 per year, or a collective $11 billion annually including tax prep fees and time, according to a report from the Economic Security Project.

IRS free tax filing program launches in 12 pilot states More

American money

Biden administration to forgive $1.2 billion in student debt for over 150,000 borrowers

The Biden administration will forgive another $1.2 billion in student debt for nearly 153,000 borrowers enrolled its new repayment program, called the Saving on a Valuable Education, or SAVE, plan. The relief will go to borrowers who have been in repayment for a decade or longer, and originally took out $12,000 or less. Biden has now canceled debt for almost 3.9 million borrowers, totaling $138 billion in relief.

Biden administration to forgive $1.2 billion in student debt for over 150,000 borrowers More

The White House

Biden administration to forgive $4.9 billion in student debt for 73,600 borrowers

The Biden administration has now canceled more than $136 billion in student debt for over 3.7 million Americans, according to the White House. Around $1.7 billion of this new aid will go to 29,700 borrowers enrolled in income-driven repayment plans. In addition, 43,900 borrowers who have worked in public service for a decade or more will receive $3.2 billion in loan cancellation.

Biden administration to forgive $4.9 billion in student debt for 73,600 borrowers More