The American Rescue Plan, signed into law on March 11, makes student loan forgiveness tax-free until the end of 2025. That's a big deal for borrowers on long-term forgiveness.
I talk about the implications of this game-changing provision and addresses several potential questions and concerns from our listeners.
In today's episode, you'll find out:
- What to know about the American Rescue Plan as it pertains to student loan debt
- Who is eligible for tax-free student loan forgiveness under this new law?
- What's behind the misleading headline showing only 32 people qualified for forgiveness
- What this most likely temporary provision means for borrowers in the long-term
- The positives of eliminating taxes on student loan forgiveness
- Whether borrowers should expect tax-free forgiveness
- When is the right time to refinance your student loan
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