Student Loan Forgiveness Is Tax-Free Now. Or Is It?

The American Rescue Plan, signed into law on March 11, makes student loan forgiveness tax-free until the end of 2025. That’s a big deal for borrowers on long-term forgiveness.

I talk about the implications of this game-changing provision and addresses several potential questions and concerns from our listeners.

 

In today’s episode, you'll find out:

• What to know about the American Rescue Plan as it pertains to student loan debt
• Who is eligible for tax-free student loan forgiveness under this new law?
• What’s behind the misleading headline showing only 32 people qualified for forgiveness
• What this most likely temporary provision means for borrowers in the long-term
• The positives of eliminating taxes on student loan forgiveness
• Whether borrowers should expect tax-free forgiveness
• When is the right time to refinance your student loan

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