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Student-Loan Forgiveness Win Could Come With a Pricey Tax Bill

Could the relief of finally wiping out student debt turn into a costly surprise? For millions of borrowers on income-driven ...

Student-loan forgiveness is back on — but a tax change could be a 'financial disaster' for some borrowers

Sen. Elizabeth Warren is calling on the IRS to prevent student-loan borrowers from facing a "tax bomb" on debt relief ...
The College Investor on MSN

Will You Pay Taxes On Student Loan Forgiveness?

Key Points ・The federal tax-free exclusion for most student-loan forgiveness under the American Rescue Plan Act of 2021 ...

Student loan forgiveness notices are going out despite the shutdown — what borrowers need to do next

Borrowers are getting notices of student loan forgiveness. Here's what experts say their next steps should be.

The White House just agreed to cancel debt for millions of American borrowers — and to do it fast. Here’s how to check if you’re one of the lucky ones

“This is a tremendous win for borrowers,” Winston Berkman-Breen, legal director for Protect Borrowers, told CNBC. (2) “The ...
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Student loan forgiveness delays and backlogs could lead to 'massive' tax bills for borrowers, advocate says

Student loan borrowers are encountering delays and backlogs while trying to access debt forgiveness programs. Meanwhile, a law that shielded student loan forgiveness from taxation is expiring at the ...
MiBolsilloColombia on MSN

Education Department sends student loan forgiveness notices

Despite the government shutdown, the Department of Education is notifying borrowers who qualify for student loan forgiveness ...
The College Investor on MSN

Which States Tax Student Loan Forgiveness?

While many types of student loan forgiveness are tax-free federally, several states may levy taxes on student loan forgiveness. Even though some popular programs like Public Service Loan Forgiveness ...
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Want to have your debts forgiven? Here's what will (and won't) qualify

Whether it's sky-high credit card balances, expensive medical bills, high-rate personal loans or lingering student loans, carrying costly debt has become a common thread for households across the ...

Student loan forgiveness at risk for many: new White House policy

New rules tighten eligibility for public-service debt cancellation and income-driven repayment plans, putting the forgiveness prospects of millions of borrowers in flux.
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What is debt forgiveness?

With debt forgiveness, creditors pardon some or all of your debt. Various types of debt may qualify for forgiveness. Debt forgiveness can offer relief from overwhelming financial burdens, but it does ...