States confirm their intention to tax student loan grant money.

In the big gift promised by President Biden, student loan borrowers around the nation may soon have up to $20,000 of their debt erased, but there may still be a cost.

On monies distributed for student loans, a state tax may be applied. States have different tax rules.

Dee Stegall, a former Mississippi State University student, claimed he just learned that he is eligible to have $20,000 of his student loans cancelled.

When Stegall learned that the federal government was providing the relief, he expressed his relief.

The relief, he claimed, did not endure, though.