How to Revoke Access for the IRS to Share Your Income for Student Loans

Key Points:

• The FUTURE Act allows borrowers to share their income with their student loan servicer for recertifying their income-driven repayment (IDR) plans.
• Borrowers must provide their consent for this sharing of income with the IRS.
• The Department of Education has made it easy to revoke this consent if desired.

Hot Take:

While this article focuses on general student loan debt, physical therapists who are dealing with student loan debt can benefit from understanding how to revoke access for the IRS to share their income. This can be an important step in managing their finances and ensuring that their student loan repayment plans are accurately based on their income.

Reference Article https://www.studentloanplanner.com/revoke-access-irs-data-retrieval-tool-student-loans/