# Effects of Biden’s Student Loan Forgiveness for American Expats



## MyExpatTaxes (10 mo ago)

President Biden just announced that his administration is introducing a Student Loan Forgiveness Plan. According to president Biden, 95% of Student Loan holders will be eligible for student loan forgiveness. Exactly who will qualify to see their debts reduced is based on income level. As an expat, this might immediately be wondering, ‘how will Biden’s Student Loan Forgiveness bill affect expats like me?’ You already know that you can use the Foreign Earned Income Exclusion to exclude over $100,000 from your annual tax return.

Read more here


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## sirpo (4 mo ago)

‘how will Biden’s Student Loan Forgiveness bill affect expats like me?’ You already know that you can use the Foreign Earned Income Exclusion to exclude over $100,000 from your annual tax return.

ROFLMFAO Apples and oranges 

I am so poor on paper Give a Shet That said shot at and missed shet at and hit SE Asia 1972 GI BILL paid for 4 year BS Science Health Care Geo Wash University Wash DC TOP 10


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## Harry Moles (11 mo ago)

sirpo said:


> ROFLMFAO Apples and oranges


Did you actually follow the link to read the article?

The point made was that depending on how the program is structured, a non-resident using the FEIE whose full salary is too high to have debt forgiven under the proposed plan may be eligible to have it forgiven due their reduced AGI.

Non-residents who qualify for federal IBR plans can already use the FEIE to reduce their IGA (to zero if they earn below the FEIE limit) which reduces their loan payments (also to as low as zero) qualifies them for full forgiveness of any outstanding loan balance after 20 or 25 years. The amount forgiven is considered taxable income in the final year; the only change for non-residents under the new plan would be the possible reduction of that taxable amount by $10 or $20 thousand.


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## AppalachianBiker (10 mo ago)

Federal judge in Texas has put a stop to the whole program and stated it isn't within Biden's power as president to do this. I read today the program has stopped taking applications for debt forgiveness. And those of us that WORKED our way through trade schools smiled.


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