Final answer:
The Tax Cuts and Jobs Act specifically expanded tax-free loan forgiveness for students who suffer death or disability. This change aligns with efforts by governmental education programs to reduce financial burdens on students and their families, and to foster educational accessibility through a variety of avenues, including FAFSA and work-study.
Step-by-step explanation:
Free Application for Federal Student Aid:
The Tax Cuts and Jobs Act expanded the tax-free nature of student loan forgiveness due to the student's c. death or disability. This legislative change recognizes the significant financial burden that can befall a family in the midst of a tragedy and aims to alleviate some of this burden. The Act addresses concerns around high levels of student debt and the increasing cost of postsecondary education, which can limit the financial futures and opportunities of graduates.
Its provisions work in conjunction with other educational support systems such as the Free Application for Federal Student Aid (FAFSA), scholarships, grants, and federally funded programs like work-study, designed to make higher education more accessible and affordable. Government programs that support education aspire to create positive spillovers in communities, coordinating efforts with businesses to provide real-world experience to students and supplying trained workers to the economy.