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Student Loan Forgiveness Not Taxed as Income 2021-2025

New rules mean that if your student loan is forgiven between 2021 and 2025, the amount will not be counted as taxable income. This applies to most federal, state, and private education loans, potentially providing significant financial relief.
Key points
Forgiveness of eligible student loans from 2021 through 2025 will not be taxed as income.
This change covers federal, state, private, and certain educational institution loans.
Exception: Forgiveness for services performed for the lender may still be taxable.
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Expired
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Additional Information
Print number: 117_HR_1683
Sponsor: Rep. Davis, Danny K. [D-IL-7]
Process start date: 2021-03-09
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Summarized by: gemini-2.5-flash-preview-04-17
Source data: api.congress.gov
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OFFICIAL LEGAL TITLE

To amend the Internal Revenue Code of 1986 to exclude certain student loan forgiveness from gross income.

FREQUENTLY ASKED QUESTIONS

What is the official ID of this bill?

The official print number for this legislation is 117_HR_1683.

Which chamber initiated this legislation?

This legislation was initiated in the House of Representatives.

When did the legislative process begin?

The process officially started on 2021-03-09.

What are the main provisions?

Key points include:

  • Forgiveness of eligible student loans from 2021 through 2025 will not be taxed as income.
  • This change covers federal, state, private, and certain educational institution loans.
  • Exception: Forgiveness for services performed for the lender may still be taxable.
What is the specific legal status?

The current status is Expired.

Where can I read the full text of this legislation?

The full official text is available at: View full text

Who is the primary sponsor?

The primary sponsor is Rep. Davis, Danny K. [D-IL-7].

What is the latest detailed status?

The latest detailed status is: Referred to the House Committee on Ways and Means.

Is this summary verified?

Yes. This content was analyzed by AI and verified by the Lustra Judge System on 2025-12-27.

CATEGORIES

Taxes Education