Home > Tag Archives: Student Loan Forgiven

Tag Archives: Student Loan Forgiven

I Receive a 1099 for a Forgiven Student Loan. How Do I Pay the Taxes? – John


“Dear Jim, Parent plus loan forgiven in Permeant disability. Received 1099C for $53,000 Loan amount and $33,000 in Interest. How does one pay the taxes when the only income is SS Disability. John” John, First, you should confirm that the cancellation of debt income is taxable. The cancellation of debt (reported on Form 1099C) is income. However, the question always ... Read More »

    Student Loan Forgiveness or Discharge Can Create a Huge Tax Bill. Watch Out!

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    If you are one of the lucky few who have qualified for a discharge or cancellation of your student loan debt, you may be shocked to learn the debt may not be over with just yet. A reader brought to my attention that the forgiveness of student loan debt, even under a disability discharge, can result in the issuance of ... Read More »

      Disabled Former Cop in Student Loan Story Gets Her Debt Forgiven

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      by Sasha Chavkin, ProPublica The Department of Education has finally forgiven the student debt of disabled former police officer Tina Brooks–who we featured in our Feb. 13 story [1] about the government’s broken program for forgiving the federal student loans of borrowers who become seriously disabled. Brooks, who fractured her spine when she fell 15 feet down a steep rock ... Read More »

        How Can I Get My Student Loan Forgiven? – Pamela

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        I am trying to find out how I can get my loan forgiven or part of it. I believe I did not benefit from the Institution for whom I received the Loan for and was not properly guided in the beginning or ending stage to secure a good job. It has been over 15 years and they are holding my ... Read More »

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