What is the tax impact if I default on my student loan?

mikiecpa · ‎June 6, 2019

IsabellaG · ‎June 6, 2019

There is no tax impact for defaulting on your student loan. You have other consequences, but there is no tax penalty for defaulting. In some cases, a student loan is forgiven, and there may be tax consequences associated with that.

**Say "Thanks" by clicking the thumb icon in a post
**Mark the post that answers your question by clicking on "Mark as Best Answer"

View solution in original post

IsabellaG · ‎June 6, 2019

There is no tax impact for defaulting on your student loan. You have other consequences, but there is no tax penalty for defaulting. In some cases, a student loan is forgiven, and there may be tax consequences associated with that.

**Say "Thanks" by clicking the thumb icon in a post
**Mark the post that answers your question by clicking on "Mark as Best Answer"

Expert does your taxes

Do it yourself

Resources

Support

What is the tax impact if I default on my student loan?