Taxes on Student Loan Forgiveness: What You Need to Know
Student loan forgiveness can be a great relief for borrowers who are struggling to repay their debt. However, it can also come with a hidden cost: taxes. Depending on the type and timing of your student loan forgiveness, you may have to pay federal or state income taxes on the amount of debt that is canceled. Here are some things you need to know about taxes on student loan forgiveness.
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