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The temporary exemption making student loan forgiveness tax-free has expired. Borrowers qualifying for income-driven repayment forgiveness in 2026 could face tax bills of $10,000 or more.
As of January 1, 2026, student loan forgiveness through income-driven repayment plans is taxable again. Borrowers with $57,000 in forgiven debt could face a $12,000 tax bill.
As of January 1, 2026, student loan forgiveness through income-driven repayment plans is once again taxable income. Here's how to prepare for the financial hit.
The federal tax exemption on student loan forgiveness expired January 1, 2026. Here's how much it could cost borrowers and what you can do to prepare.
Student loan forgiveness is now taxable again as of January 1, 2026, while over 800,000 borrowers remain stuck in a backlog for repayment plans and forgiveness programs.
A key tax exemption for forgiven student debt expired on December 31, 2025. Borrowers who qualify for forgiveness could now face tax bills exceeding $12,000.
TransUnion's 2026 Consumer Credit Forecast projects credit card balance growth of just 2.3%—the smallest increase since 2013. Here's what the data reveals about American financial health.
Nearly half of American credit card holders carry balances at 22%+ interest rates. New survey data reveals 61% have been in debt over a year, and 22% don't believe they'll ever pay it off.
For the first time in months, Americans are pulling back on credit card spending. The Federal Reserve's latest data shows revolving credit dropped $2.1 billion—a 1.9% annual decline.
The Consumer Financial Protection Bureau's new report shows Americans paid $160 billion in credit card interest in 2024, with average rates near 21% and debt exceeding $1.2 trillion.
The Education Department is resuming wage garnishments for defaulted student loan borrowers while 800,000 remain stuck in a processing backlog for affordable repayment plans and forgiveness.
Credit card balance growth is projected to slow to just 2.3% in 2026—the smallest increase since 2013—as American consumers show surprising resilience despite economic headwinds.