Student Loan Forgiveness Tax Hit: A Looming Crisis
Update: 2026-01-04
Description
Student loan borrowers, particularly those on income-driven repayment plans and the Public Service Loan Forgiveness program, face a significant tax burden due to the expiration of a provision from former President Bidens American Rescue Plan. This change could result in thousands of dollars in taxes for those nearing loan forgiveness, potentially derailing their financial plans. The Department of Education has made strides to alleviate this issue, but the final decision lies with the IRS and Treasury Department, with Democratic lawmakers advocating for borrowers rights. Checkout Solipillow.com
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