Money
If the company's request is approved by the state Utilities Commission, the typical residential customer’s monthly bill would increase from $115.01 to a little over $134.11.
Under the new plan, borrowers who earn less than roughly $30,600 a year would owe $0 a month on their federal student loans, effectively pausing them. A borrower who’s in a family of four and makes less than roughly $62,400 would also see their payments paused.
New tax brackets, standard deductions, and tax credits are now in effect, meaning more North Carolinians can save more money on their taxes this year.
Prior to this move, student loan debt—unlike credit card bills, medical bills, and most other forms of debt—was not eligible to be automatically wiped away when a person filed for bankruptcy.
In the past week, two separate courts controlled by conservative judges have ruled against the Biden administration’s plan to cancel tens of thousands of dollars in federal student loan debt.
As the NC General Assembly’s Republican House and Senate leaders announced their proposed budget Tuesday, state employees and others are shaking their heads.
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