335: Popcorn To-Go: Could Student Loan Forgiveness Have a Big Tax Surprise?

Hey, I'm Chris.

I'm a former Analyst, Podcaster, and Producer. My goal is to help you understand your finances better in about the time it takes to make a bag of popcorn!

Could the latest round of student loan forgiveness come with a tax bill from your state? Today I’ll be taking you through 13 states that could impose an income tax on your loan forgiveness.

This week I am on the road as I drive all over my home state of California. I packed my mic and a bag of popcorn to breakdown the latest round of student loan forgiveness from a parking lot in beautiful Santa Barbara, California! 

Sources
These 13 States May Hit Borrowers With Up to $1,100 in State Tax Liability on Forgiven Student Loans. How to Know if Your Debt Cancellation Will Trigger a Bill – https://www.cnbc.com/2022/08/26/13-states-may-hit-borrowers-with-state-tax-liability-on-forgiven-student-loans.html 

What if You Just Paid Off (Or Paid Down) Your Federal Student Loans?
https://www.huffpost.com/entry/student-loan-forgiveness-refund_l_6307b70de4b0f72c09def6b5 

Student Aid Website – https://studentaid.gov/debt-relief-announcement

How to Qualify for Biden’s New Student Loan Forgiveness Plan – https://www.cnn.com/2022/08/24/politics/biden-student-loan-forgiveness-qualify/index.html

How Do I Get My Student Loans Forgiven? Qualifying for Biden’s Debt Relief, Explained – https://www.usatoday.com/story/money/2022/08/25/how-is-student-loan-debt-forgiven/7884574001

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