EYEWITNESS NEWS (WBRE/WYOU) — Gov. Tom Wolf is issuing a reminder to Pennsylvanian students who will receive President Joe Biden’s Student Debt Relief that it will not be taxed.
According to a release issued by the governor, students who will be receiving up to $20,000 in relief under President Biden’s Student Debt Relief Plan will not be taxed on that relief.
In a statement, Wolf said:
Cumulative federal student loan debt is holding back Pennsylvanians who want to pay their bills, afford housing and have a little financial breathing room all while obtaining meaningful employment and a successful career.
I applaud President Biden for supporting hard-working student loan borrowers who are shouldering astronomical student debt by providing much-needed relief.
Given this positive action at the federal level, my administration does not intend to burden these Pennsylvanians with a tax bill following this beneficial action.
Therefore, that relief will not be considered taxable income in Pennsylvania.”Tom Wolf, Governor of Pennsylvania
This is following Governor Wolf’s action last year on the student loan debt relief Pennsylvanians received from the federal Public Service Loan Forgiveness (PSLF) Program and the Pennsylvania Student Loan Relief for Nurses Program.