Your student loan forgiveness may soon be taxable — here’s what you should know
Forgiveness at the end of an IDR plan will be taxable beginning in 2026.
Our Expert Contributors are a select group of creators, experts and thought leaders who share first-person perspectives on finance and its intersections with our lives.
Meet our expertsMark Kantrowitz is an expert on student financial aid, the FAFSA, scholarships, 529 plans, education tax benefits and student loans. His mission is to deliver practical information, advice and tools to students and their families so they can make smarter, more informed decisions about planning and paying for college.
Mark has testified before Congress about student aid policy on several occasions and is frequently interviewed by news outlets. He has been quoted in more than 10,000 newspaper and magazine articles about college admissions and financial aid. Mark has written for the New York Times, Wall Street Journal, Washington Post, Reuters, U.S. News & World Report, MarketWatch, Money Magazine, Forbes, Newsweek and Time.
Mark is the author of five bestselling books about scholarships and financial aid and holds eight patents. His most recent books are How to Appeal for More College Financial Aid and Who Graduates from College, Who Doesn’t.
Mark serves on the editorial board of the Journal of Student Financial Aid and is a member of the board of trustees of the Center for Excellence in Education. Mark previously served as publisher of the FinAid, Fastweb, Edvisors, Cappex and Savingforcollege.com web sites. Mark has also worked for Justsystem Pittsburgh Research Center ("Just Research"), the MIT Artificial Intelligence Laboratory, Bitstream Inc., and the Planning Research Corporation.
Mark has two Bachelor's degrees in mathematics and philosophy from the Massachusetts Institute of Technology (MIT) and a Master's degree in computer science from Carnegie Mellon University (CMU).
Mark has two children (one biological and one adopted), three cats and three dogs. He shows and breeds Cornish Rex cats, a curly-coated cat breed. In his spare time, Mark folds origami models, repairs antique battery-operated toys and creates stained glass windows. He collects Australian Aboriginal Art (http://aboriginality.us/). He is a two-time cancer survivor. As he writes in his cancer joke book, Tumor Humor, if you must get cancer, you might as well get the curable kind.
Live like a student while you are in school, so you don't have to live like a student after you graduate.
— Mark Kantrowitz
Should you buy or rent an RV? It depends on your travel plans.
Home sellers in Utah can choose from a variety of “we buy houses” companies.
Learn how to get approved for a credit card with bad credit.
It doesn’t take long at all to complete an application or receive your loan.
Boats can be expensive, but there are some financing options if you don’t have cash to purchase one outright.
There are ways to sidestep college tuition. Here are 10 of the best options.
If you have private student loans, Aspire could be managing your payments.
A lender may not let you remove a car loan co-signer without refinancing.
We appreciate your feedback
Thank you for taking the time to share your experience.