Tax Implications of Federal Loan Forgiveness

Lindsay Taylor Pyfrom
The importance of understanding the tax implications applicable to student loan forgiveness programs and discharge options is more crucial than ever.

The importance of understanding the tax implications applicable to student loan forgiveness programs and discharge options is more crucial than ever.

Natee Meepian via Shutterstock

Currently, federal student loan debt has reached an excess of $1.5 trillion. More than 7.3 million former students are on various payment plans. There are limited circumstances in which student loan debt can be discharged or forgiven without tax implications. The importance of understanding the tax implications applicable to student loan forgiveness programs and discharge options is more crucial than ever.

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