Can Debt Forgiveness Cause a Student Loan Tax Bomb?


Can Debt Forgiveness Cause a Student Loan Tax Bomb?

Student loan cancellation is a hotly debated issue for Americans who took on debt to attend college. While you can get a loan forgiveness with less money to pay off later, your finances can still take a short-term blow from an unlikely source: a student loan tax bomb. This is especially the case for borrowers on income-tested repayment plans that are not part of the federal qualifying student loan exemption programs.

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