SecondCor521
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DSIL has outstanding student debt under the Federal program. This bill eliminates tax on forgiven student loans thru 2026. As I understand it, the President can forgive up to $50K by executive order. Has anyone heard if such an order is likely?
Nobody knows, it's all speculation about the future.
Technically, the President can't do it himself. But many believe he can direct the Secretary of Education to do so via an executive order.
The $50K amount is what some in Congress are calling on the President to do. The President seems to prefer about $10K through executive order, with any larger amounts being done through law.
I think the removal of taxation of forgiven student loans makes it more likely, because it is more palatable to do so without the taxation of the forgiven amounts.
The logical thing for people like your DSIL to do is be mindful of these potential laws and be strategic about whether and when to pay them down or pay them off. I think there are lots of people with student loans who are holding off on paying them in hopes that either the $10K or $50K or something will happen in the next few years.