The Student Loan Tax Elimination Act is a federal bill aimed at eliminating taxes on forgiven student loans. This act seeks to provide relief to individuals who have had their student loans forgiven due to working in public service or through income-driven repayment plans. The main provision of this bill is the removal of tax obligations on the forgiven amount of these loans, which will help reduce financial burdens on borrowers. By eliminating taxes on forgiven student loans, this legislation aims to make higher education more accessible and affordable for all Americans.
2023-03-28: Introduced in House
2023-03-28: Referred to the House Committee on Education and the Workforce.
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