BrittanyS
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Education

Neither the IRS nor New York considers Student Loan Forgiveness as taxable income.  Many private student loan lenders do not include the cancellation of debt as a part of the forgiveness program.  The American Rescue Plan excludes student loan forgiveness for a private lender if your lender categorizes debt cancellation as student loan forgiveness.  You will need to contact your lender for more information.

 

See the information below provided by Discover:

 

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