IsabellaG
Expert Alumni

Education

It depends. 

See  Rev. Rul. 2008-34which describes the circumstances under which a law school loan may be considered a nontaxable student loan, and the debt forgiveness would be nontaxable. If this is your situation, then it wouldn't be taxable.

But if your LRAP assistance is structured as a grant,  it could be considered taxable income.

**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