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ERIC Number: ED607697
Record Type: Non-Journal
Publication Date: 2020-Jul
Pages: 11
Abstractor: As Provided
ISBN: N/A
ISSN: N/A
EISSN: N/A
Tax Consequences of Loan Discharges for Borrowers in Income-Driven Repayment Plans
Institute for College Access & Success
This brief illustrates that while many borrowers in IDR [income-driven repayment] will repay their loans in full, those who do receive a discharge of remaining debt after 20 or 25 years of responsible payments may face an unaffordable tax liability because these discharged amounts are treated as taxable income under current law.
Institute for College Access & Success. 405 14th Street 11th Floor, Oakland, CA 94612. Tel: 5110-559-9509; Fax: 510-845-4112; e-mail: admin@ticas.org; Web site: http://www.ticas.org
Publication Type: Reports - Descriptive
Education Level: Higher Education; Postsecondary Education
Audience: N/A
Language: English
Sponsor: N/A
Authoring Institution: Institute for College Access & Success
Grant or Contract Numbers: N/A