Tips are an important part of the income to many households, bringing debate about them being obligatory or just an extra from the payment for the service thanking the attention. To many servers, retail and hospitality workers, there’s been a step towards getting their tips without tax payments.
On August 24th, 2022, President Joe Biden announced a sweeping plan to cancel up to $20,000 in federal student loan debt and an extension of the repayment freeze until the end of the year. Debt forgiveness applies only to those earning less than $125,000 a year ($250,000 for married couples). The $20,000 available only to those that received a Pell grant in college. Non-Pell borrowers who meet the income requirements qualify for $10,000 of forgiveness from federal loans.



