Through improvements to the public service Loan Forgiveness Program, the Biden administration has canceled loans for more than 871,000 public service workers.
During a speech in Las Vegas on Tuesday, President Joe Biden vowed to address the housing crisis by investing in building more affordable housing options, lowering rent and mortgage costs, and supporting first-time homebuyers through financial aid programs.
The First-Time Homebuyer Tax Credit Act would create a point-of-sale tax credit for up to 10% of a home’s purchase price, capped at $15,000. For first-time buyers, this credit would help alleviate the stress of a large upfront down payment necessary for mortgage approval.
Nearly 1 in 3 Nevadans – 882,000 people – are covered by Medicaid, a joint state and federal program that provides health insurance for low-income individuals or those with disabilities.
The new proposal will focus on providing debt relief to those with older loans or loans with large sums of interest; those with high-cost, unavoidable child care or health care expenses; borrowers who are highly likely to default; and others who face “financial hardship.”
The new FAFSA form has been released. The Free Application for Federal Student Aid (FAFSA) determines eligibility for federal financial aid.
More than 11,000 Nevadans have had their student debt discharged or have been identified for debt relief due to the Biden administration's reforms of the student loan debt system.
This round of debt relief will eliminate the debt of 125,000 borrowers nationwide: 22,000 with disabilities, 51,000 through an income-driven repayment plan, and 53,000 through the Public Service Loan Forgiveness program.
