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The state of student loan forgiveness Since he became president, Biden's Education Department has forgiven $138 billion in student loans for 3.9 million borrowers, according to the most recent data.
"Student loans that are forgiven after Dec. 31, 2020, and before Jan. 1, 2026, will not be taxed on a federal return, but for state income tax, there are some exceptions," Kathy Pickering, chief ...
Preparing now is crucial if you expect an eventual “tax bomb” for canceled student loan debt. You can run your student loan, income and tax details through a student loan repayment calculator ...
One of the hot topics after the Biden administration unveiled its student loan forgiveness plan last week was how canceled debt might impact borrowers' income tax returns. The details are still not...
The Tax Foundation, an independent tax policy nonprofit, noted in a column last week that some states might consider student loan debt forgiveness a taxable event, meaning borrowers would have to ...
Student loan interest deduction and taxes for forgiveness. Student loan payments resumed this fall, so you may be eligible to deduct the interest. "Federal student loan borrowers who were required ...
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