US education loan forgiveness delays could cost borrowers thousands: What every student needs to know

Delays in US student loan forgiveness could result in substantial tax bills for borrowers due to application backlogs and the upcoming expiration of tax exemptions at the end of 2025. Over 1.3 million applications are pending, and many debt relief programmes are paused under current policies. Experts warn that borrowers may face thousands in tax liability unless action is taken. Borrowers are advised to retain payment records and prepare financially, as reported by CNBC.