Biden student loan cancellation will mean unexpected tax bills for many

By Zach Halaschak

Published September 8, 2022 11:00am ET

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Biden student loan cancellation will mean unexpected tax bills for many — Beneficiaries of President Joe Biden’s plan to forgive student debt in some states could be surprised by big tax bills. Last month, the administration moved forward with canceling up to $20,000 of student loan debt for borrowers who earn less than the $125,000 annual income threshold, but residents in seven states will be on the […]

Beneficiaries of President Joe Biden’s plan to forgive student debt in some states could be surprised by big tax bills.

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Biden Administration Colleges and Universities Student loans Taxes