S 496
117th Congress
Senate
Taxation
Government lending and loan guarantees
Higher education
Income tax exclusion
Student aid and college costs
Student Loan Tax Relief Act
Introduced: March 1, 2021
See on congress.gov
Everywhere this bill has been
2 steps
Introduced
In committee
Reported out
Passed House
Passed Senate
To President
Became law
Mar 1, 2021
Read twice and referred to the Committee on Finance.
Mar 1, 2021
Introduced in Senate
Plain-English summary
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.
What's happening now
Read twice and referred to the Committee on Finance.
Committees of jurisdiction
1