This is why you cant believe some of the things you read on the internet.

The way you put it it is very clear.

However I would like to vent may anger over this ruling as being nontaxable.

Any of us who have ever had a debt forgiven has had to pay income taxes on it. Why should these students get off scott free? A person who has a credit card debt of 600.00 forgiven has to pay income taxes on it. Why should someone who has $10000.00 in debt cancelled not have to pay taxes on it.

Ooops I stand corrected. Jesus did not charge me for his paying my debt.