Income-Based Repayment Debt Forgiveness Act This bill modifies the requirements for calculating taxable income to exclude from the gross income of an individual any income that is attributable to the discharge of a federal student loan pursuant to a federal program or law that provides for income contingent or income-based repayment of the loan.
Get AI-generated questions to help you understand this bill better
Timeline
Introduced in Senate
Read twice and referred to the Committee on Finance.
Introduced in Senate
Read twice and referred to the Committee on Finance.
Taxation
Higher educationIncome tax exclusionStudent aid and college costs
Income-Based Repayment Debt Forgiveness Act
USA116th CongressS-1248| Senate
| Updated: 4/30/2019
Income-Based Repayment Debt Forgiveness Act This bill modifies the requirements for calculating taxable income to exclude from the gross income of an individual any income that is attributable to the discharge of a federal student loan pursuant to a federal program or law that provides for income contingent or income-based repayment of the loan.