Nonprofit student loan organizations

From the 2024 DOR Tax Exemption Study

82.04.367 - Nonprofit student loan organizations Description Nonprofit organizations exempt from federal income tax may exempt income subject to B&O tax if they: - Are guarantee agencies under the federal guaranteed student loan program. - Issue debt for student loans. - Provide guarantees for student loans. Purpose Promotes the availability of student loans. Taxpayer ($ in millions): savings FY 2024 FY 2025 FY 2026 FY 2027 State Taxes $0.000 $0.000 $0.000 $0.000 Local Taxes $0.000 $0.000 $0.000 $0.000 Repeal of Repealing this exemption would not increase revenue because currently no exemption taxpayers use it. Potential ($ in millions): revenue gains FY 2024 FY 2025 FY 2026 FY 2027 from full repeal State Taxes $0.000 $0.000 $0.000 $0.000 Local Taxes $0.000 $0.000 $0.000 $0.000 Assumptions - No taxpayers currently use this exemption. We expect no usage during the forecasted period of this study. - Due to the discontinuation of the Federal Family Education Loan (FFEL) Program, the federal government now directly distributes financial aid for education rather than through a nonprofit organization. Data Sources - Lender Disclosure Statement for Northwest Education Loan Association - F