As of 2026, some loan borrowers may face a sizable tax bill ...

With debt forgiveness, creditors pardon some or all of your debt. Various types of debt may qualify for forgiveness. Debt forgiveness can offer relief from overwhelming financial burdens, but it does ...

Sweeping student loan forgiveness changes for federal student loans are going into effect this year, and millions of borrower ...

The student loan debt tax bomb can happen when you have to pay taxes on the student loan forgiveness you received. However, most people will avoid the tax bomb due to a tax process called insolvency.

President Donald Trump's "big beautiful bill" changes the taxation policy on certain kinds of student loan forgiveness. Borrowers who benefit from debt cancellation under income-driven repayment plans ...

Federal student loan borrowers are running out of time on a quiet but costly perk: for a few more months, most forgiven balances are shielded from federal income tax. Once that protection lapses at ...

Even during the government shutdown, borrowers are getting notices of student loan forgiveness. The Trump administration agreed last month to resume forgiving people's education debts under programs ...

Student loan borrowers spent years hearing that relief was finally on the way, only to discover that the clean slate they were promised may come with a surprise bill from the Internal Revenue Service.

When a credit card issuer agrees to forgive a portion of your balance, you may receive an official letter stating that a portion of your debt has been forgiven. This marks a significant milestone in ...