Students walk to and from classes on the Indiana University campus, Thursday, Oct. 14, 2021, in Bloomington, Ind. Indiana will tax student debt relief as income, reflecting similar policies in other U.S. states following the Biden administration's announcement of a forgiveness plan in August 2022.
Though, Biden's plan caps relief at $20,000 for those who received Pell grants – awarded to low-income students – and $10,000 for students who did not get Pell grants in college. Additionally, individuals who make more than $125,000 are not eligible for the one-time relief.
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