Rev Rul 2008-34, 2008-28 IRB IRS website: http://www.irs.gov/
In a revenue ruling, the IRS has ruled that the forgiveness of a law student's loan in exchange for the borrower working for a certain period of time in a qualifying law-related public service position wasn't includible in his/her gross income. The revenue ruling clarified that a law school loan made under a Loan Repayment Assistance Program.
Source: University of Minnesota Law Library LexLibris Blog, citing Federal Taxes Weekly Alert 06/26/2008, Volume 54, No. 26 via RIA Newsstand 6/23/08 (RIA Checkpoint Academic Advantage Library is available via the OCU Law Library Database page)
