If I find out someone had their loan forgiven and refused to live up to their commitment, I would fire them, and refuse to hire anyone who did.
From the article:
But there are five that are imposing tax on the forgiven debt at this time, according to the Tax Foundation: Arkansas, Indiana, Mississippi, North Carolina, and Wisconsin.
That means if you received student loan forgiveness last year and live in one of those five states, the relief will count as taxable income when you file your 2023 return.
Taxing, as income, the forgiven loans is proper.
It is the same as income. Loan money that is forgiven has always been taxable.
Give these winners of the deadbeat sweepstakes a choice?
Pay the loan back. Or pay income tax on it.
It is so aggravating to see what has happened to the world which previously seemed mostly sane.
Put some blame on the colleges that make claims like 90%+ of grads are employed in a relevant career field six months after graduation with a 50k average income