State guidance for taxability or exclusion of student loan forgiveness
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State guidance for taxability or exclusion of student loan forgiveness

21 days ago · 2 min read

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The Biden administration’s student loan forgiveness initiative that was announced by the White House in August 2022 stipulates that the Department of Education will provide debt cancellation for federally owned student loans held by the Department of Education of up to $20,000 in for Pell Grant recipients and up to $10,000 in debt cancellation to non-Pell Grant recipients. Borrowers are eligible for this federally tax-free cancellation of debt relief if their individual income is less than $125,000 ($250,000 for

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