Borrowers could face state tax bills on forgiven student loans
Thirteen states have tax laws that would treat forgiven debt as income, meaning it's subject to state levies on earnings.
Residents of New York, Virginia and 11 other states could end up with a surprise tax hit of hundreds of dollars next year on forgiven student loans.
President Joe Biden’s announcement that the government would forgive some student debt for individuals earning less than $125,000 was welcome news
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