debt forgiveness

Taxes on forgiveness are treated like income tax – local income taxes vary by county and the person’s specific tax return.

In Indiana, around 906,500 people have federal student loan debt. The average Indiana resident owes $28,522.

Indiana ranks above the national average for student loan debt at $32,874 per borrower, and, according to the U.S. News and World Report, IU Bloomington graduates can expect to borrow an average $19,500 in federal loans.