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Student loan forgiveness can eliminate a large balance, but certain federal student loan discharges after 2025 may create taxable income. Borrowers should check
A tax exemption for student loan forgiveness expired, meaning borrowers could face a big, surprise bill from the IRS.
Student loan forgiveness in 2026 could lead to a tax bill of up to $12,000 for some borrowers after a federal tax break expired at the end of 2025.