Feb 15, 2024

What student loan forgiveness means for your taxes

Stefani Reynolds/AFP via Getty Images

Anyone who received forgiveness in 2023 or gets it in the next two years doesn’t have to worry about federal taxes.

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If your student loans were forgiven last year, what does that mean for your tax bill?

by Samantha Fields

Feb 15, 2024

Due to a temporary change in the law, student loan forgiveness is not considered federally taxable income. State tax laws vary, though.

Anyone who received forgiveness in 2023 or gets it in the next two years doesn’t have to worry about federal taxes.

Kevin Dietsch/Getty Images

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The team

David Brancaccio Host

Leanna Byrne Host, BBC

Kelly Silvera Executive Producer

Meredith Garretson Morbey Senior Producer

Alex Schroeder Producer

Erika Soderstrom Producer

Ariana Rosas Producer

Nic Perez Director/Producer

Dylan Miettinen Digital Producer

John Bruington Media Producer

Jesson Duller Media Producer

Brian Allison Technical Director

James Graham Producer, BBC

Jo Critcher Producer, BBC

Naomi Rainey Producer, BBC

Lis Mahy Producer, BBC

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