I have a question. Should the 'up to $50,000' in debt be forgiven, what is the tax implication? Is the forgiven debt considered income? Will the IRS come looking for their share?

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Will the IRS come looking for their share?

The $1200. stimulus is subject to income tax. One could extrapolate that tuition debt relief would be as well. But, we're dealing with politicians so assume at your own risk.