Student loan under my SS# for son to attend private college was forgiven b/c my perm disability. Is the exclusion from claiming as income only if the student is disabled?

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When I read IRS Publication 4681, it appears to read that the exclusion is only applicable if the student is the one that is permanently disabled. The Publication states "To exclude canceled student loan debt from your income, your loan must have been made by a qualified lender to assist YOU (emphasis added) in attending an eligible educational institution." In addition, under Item 5, the Publication states "In addition to (1)–(4) above, for loans canceled on account of the death or total and permanent disability of the student only, the lender of a private education loan (as defined in section 140(7) of the Consumer Credit Protection Act)."

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Anonymous

First, the information which follows applies to federal direct or federally guaranteed student loans. Effective January 1, 2018, amounts cancelled due to death or disability will not be considered income for federal income tax purposes. This removes one of the largest stumbling blocks for persons who otherwise would qualify for and benefit from debt cancellation.

Federal PLUS loans, the only loans typically requiring a parent to sign as borrower, may be discharged upon the death or disability of either the parent borrower (both parents must be deceased IF both signed the note) or the student.