I'm wondering if the beneficiaries of the forgiveness program are going to be sent a 1099 for the debt that has been forgiven. I haven't seen anything about that anywhere. Is it just going to be a surprise after the election?

Let's stop calling it Debt Forgiveness and start calling it what it is - Debt Transfer.

You spelled bull $h!+ wrong

They should!! I got a 17k 1099 for the last of a Texas Tomorrow Fund. I guess that FIFO accounting method bit me hard.

Through the end of 2025, no borrowers will pay federal income taxes on any student debt discharged by the federal government.
A provision in the March 2021 COVID-19 relief package stipulates that any debt forgiven from Dec. 31, 2020, to Jan. 1, 2026, will not count as income.

Almost like they had it planned all along.

It’s all the same, whether its free healthcare for invaders, food stamps, $5 million for the New York hip-hop museum,

Just buying votes with funny money.

Give some here, forgive debts there, everybody wins.

America needs a miracle right now.

Yep, we called that a clue.

America needs Jesus

Student loan forgiveness is blatant discrimination. Biden is an absolute idiot.

It isn't just Biden. This program has been around for awhile. Its a forgiveness for public service workers (teachers, city/county employees) and it is only forgiven after making 10 years of payments. This was around when I started working for a city 14 years ago. Its considered one of your benefits for taking a lower paying job.

Biden is still an absolute idiot.

Freeloaders and leaches, allow Joe to buy your vote with some free stuff, my two cents on the subject, I'm not speaking about people who really earned college through service, Our Military Members.

So, as a city employee, construction worker, mechanic, roofer, etc... (really high paying jobs, LOL) I get to help pay back your loan because you took a low paying job?

Average salary of the 750K deadbeats is $313,000 with average loan "forgiveness" at $25,500. F-them all!

as a small business owner if you took a loan to get started.... Joe says.....FUK U

And small business is the backbone of our country.

But he said unions built this country! Crooked bastard.

It is not Biden’s money to give away. All the money Biden is playing free and loose with is not his. It belongs to the taxpayers. The bill for all the money Biden irresponsibly gives away is passed down to the taxpayers to cover. FJB and his irresponsible financial decisions. Americans are already saddled with paying off the debts of his big spending decisions for generations to come.

More recently, Unions chased a lot of American jobs out of this country.

True it was started by Biden mentor Obama.

(quote) 2007: CONGRESS CREATES PSLF
In the last year of President George W. Bush’s presidency, Congress passed the College Cost Reduction and Access Act with bipartisan support. It promised to ease the burden of repayment of student loan debt—a burgeoning problem caused by skyrocketing college tuition—through a number of modifications to existing programs and by creating new ones. The Bush administration touted the bill’s expansion of Pell Grants, increasing the amount of money low-income families could receive toward tuition. Further, it reduced the interest rate on future federal Stafford Loans, cutting them in half over the following few years.

Perhaps the largest lasting impacts, however, came for borrowers already in repayment. The Act created two programs that were designed to ease the ongoing cost to borrowers and to help them eliminate their loans if they were working in public service. Although the White House did little to advertise these programs, Income-Driven Repayment (IDR) and Public Service Loan Forgiveness (PSLF) have remained integral parts of the federal student loan system and are regular news items in the ongoing student debt crisis.(/quote)

https://navigatestudentloans.com/a-brief-history-of-public-service-loan-forgiveness/

So, in reality poor hard-working people get the loans of college egg heads transferred to them to help pay off...

Wish I got some of that free money.

Heck, I'm wondering how many of them took out big college loans, spent their time and money drinking beer and chasing girls, blew off college and now get it all forgiven?

I blame republicans on this one. Supreme court ruled no to this. Republicans sit by and let it happen