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Typically, federal student loan debt forgiven under certain programs—like income-driven repayment (IDR) plans—counts as taxable income, meaning borrowers who get relief will likely have a ...
Student loan servicers or lenders report interest payments of $600 or more per year to the IRS via tax form 1098-E. You should receive a copy — if not, be sure to look out for one directly from ...
However, once 2026 begins, most forgiven federal and private student loan debt is set to be taxable at the federal level again. According to the IRS , the amount will be part of your gross income ...
Student loans may be discharged through bankruptcy, but this is difficult. [2] Research shows that access to student loans increases credit-constrained students' degree completion, later-life earnings, and student loan repayment while having no impact on overall debt. [3]
Although borrowers were granted a stay of student loan payment since the start of the pandemic in March of 2020, many vulnerable borrowers will struggle to pay their bills when payments resume on...
Employer student loan contributions used to be taxable as regular income in the U.S. [3] According to the Coronavirus Aid, Relief, and Economic Security Act, payments of student loan principal and interest by an employer to either an employee or a lender is not taxable to the employee if paid on or before December 31, 2020.
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