IRS Blesses Law School Student Loan Forgiveness Programs

If your law school has a Loan Repayment Assistance Program and you take a job that qualifies you (legal services, public defense, etc.), will the help repaying your loan be taxable as "income"? The IRS has issued Rev. Ruling 2008-34 answering no -- good news for the programs and the graduates who will benefit from them. TaxProf Blog: IRS Blesses Law School Student Loan Forgiveness Programs, June 20, 2008.

Thanks: Mary Hotchkiss.