Is student loan forgiveness taxable?
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Abbey Johnson, Helping with Student Loan DocumentationAnswered on October 02,2023
If you’re not on PSLF, current law indicates that student loan forgiveness is taxable at the federal level. There is an exception that student loan forgiveness won’t be taxable prior to January 1, 2026. Consult a tax professional if your loans are forgiven in full.
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Under the Saving on a Valuable Education (SAVE) plan, a single borrower who makes less than $15 an hour will not have to make any payments. Borrowers earning above that amount would save mor..Click here to get a detailed guide
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