S-496 : Still Just a Bill

Student Loan Tax Relief Act

This bill modifies tax provisions allowing an exclusion from gross income for income arising from discharges of student loan debt after January 31, 2020. This includes loans for postsecondary educational expenses, private education loans, and loans made by tax-exempt educational organizations.

The bill eliminates the temporary expiration date for the exclusion and the death or total and permanent disability requirement for a discharge.

Action Timeline

Action DateTypeTextSource
2021-03-01IntroReferralRead twice and referred to the Committee on Finance.Senate
2021-03-01IntroReferralIntroduced in SenateLibrary of Congress

Policy Area :

Taxation
See Subjects
  • Government lending and loan guarantees
  • Higher education
  • Income tax exclusion
  • Student aid and college costs

Related Bills

See Related Bills