What exclusions apply to forgiven loans?

What exclusions apply to forgiven loans?

Forgiven loans can have certain exclusions, such as tax implications or specific eligibility criteria. Would you like to know more about these?

Yes, what are the tax implications?

Generally, forgiven loans may be considered taxable income. However, there are exceptions, like the Public Service Loan Forgiveness program.

Are there any specific eligibility criteria I should be aware of?

Yes, eligibility criteria can include the type of loan, the borrower's employment status, and the repayment plan chosen.

Can you give me examples of loans that can be forgiven?

Sure! Examples include federal student loans under the Public Service Loan Forgiveness program and certain types of business loans.