Student-loan borrowers who get debt relief over the next decade may see their tax bills triple

A new report from Protect Borrowers indicates that student-loan borrowers who receive debt relief over the next decade could face significantly higher tax bills. This is due to the expiration of a 2021 provision that made student-loan forgiveness tax-free. The analysis estimates that some borrowers could see their tax bills triple. For example, a married couple with two children earning $60,000 a year and $50,000 in forgiven debt might owe about $7,200 in additional federal taxes and lost credits.

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