More student-loan forgiveness is here. You have one month to opt out.

"Some student-loan borrowers are getting an early Valentine's Day gift from the Department of Education. Earlier this week, another batch of borrowers who have completed at least 20 years of payments on an income-driven repayment plan received emails from the department with the subject line: "You're eligible to have your student loan(s) discharged." The email, which multiple borrowers shared with Business Insider, said that the department will "work with your loan servicer to process your IDR discharge over the next several months.""

"Borrowers might choose to opt out of the relief to avoid state tax liability, the email said. Doing so would require them to continue paying back their loans. After the March opt-out date, the department will send borrowers' information to their servicers, and the servicer will notify the borrower once the relief has been processed. The email said that most borrowers will see the relief processed within two weeks, but it could take more time for some borrowers."

The Department of Education is sending emails to borrowers who have made at least 20 years of payments under income-driven repayment plans, notifying them they are eligible for loan discharge. The department will coordinate with loan servicers to process income-driven repayment discharges over several months, and most borrowers should see relief processed within roughly two weeks after servicer action. Borrowers do not need to take action to receive the discharge but may opt out by contacting their servicer by March 5 to avoid potential state tax liability, which would require continuing loan payments.

Read at Business Insider