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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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‎February 25, 2025
6:34 AM