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Source: The College Investor I get a lot of questions about whether you’ll pay taxes on student loan forgiveness. The questions come in many forms: Will I owe taxes on the amount of my student loan debt forgiven? What will my student loan forgiveness tax burden be? Is the debt forgiven tax free for student […]
President Trump made some major changes to student loan forgiveness programs – and most people don’t know it. Combine that with the proposals rolled out by Education Secretary Betsy DeVos, and the Trump presidency was mired with student loan controversy. Let’s break down the changes Trump’s administration has done with student loan forgiveness, and then […]
Source: The College Investor The student loan debt tax bomb can happen when you have to pay taxes on the student loan forgiveness you received. However, most people will avoid the tax bomb due to a tax process called insolvency. While some student loan forgiveness programs, like Public Service Loan Forgiveness (PSLF) are tax-free, others […]