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Student loan forgiveness may trigger surprise tax bills, study warns
Original: Student loan forgiveness is a ticking tax bomb again, study warns
A new study is warning that student loan forgiveness could leave borrowers facing large, unexpected tax bills, describing the relief as a 'ticking tax bomb.' The warning is being carried by newspapers across the United States, including USA Today and the St. Louis Post-Dispatch. Forgiven loan balances can in some cases be treated as taxable income, meaning borrowers might owe significant amounts to tax authorities after receiving debt relief.
Why now: Borrowers and policymakers are weighing the financial consequences of student debt relief as forgiveness programs move forward.
USA TodayUS student loan borrowersInternal Revenue Service
Evidence
- Student loan forgiveness is a ticking tax bomb again, study warns · Arizona Daily Star
- Student loan forgiveness is a ticking tax bomb again, study warns · Roanoke Times
- Student loan forgiveness is a ticking tax bomb again, study warns · Hickory Daily Record
- Student loan forgiveness is a ticking tax bomb again, study warns · St. Louis Post-Dispatch
- Student loan forgiveness is a ticking tax bomb again, study warns · USA Today
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