Quartz

3 Million Borrowers Face Potential $12,000 Tax Hit as Student Debt Rules Shift

Roughly 3 million student loan borrowers could be exposed to an average tax bill of about $12,000 if forgiven balances are treated as taxable income, according to warnings highlighted by consumer advocates and reported by Forbes. The risk underscores a looming policy and market issue as repayment-plan changes and expiring relief provisions reshape the outlook for millions of households.