In $2021,$ Susan borrows from the U$.$S$.$ Department of Education $($ED$)$ pursuant to the Direct Loan Program to finance her attendance at an institution of higher learning. In $2023,$ when the balance of her outstanding Direct loaGenerally, each tax practitioner who applies for renewal to practice before the Internal Revenue Service must retain the information required with regard to qualifying continuing professional education hours. How long must records of completed continuing professional education $($CPE$)$ be retained?

A$.$ The individual is not required to retain the information if the continuing professional education sponsor has agreed to retain itB. For a period of $1$ year following the date of renewal of enrollmentC. For a period of $4$ years following the date of renewal of enrollmentD. For a period of $5$ years if it is an initial enrollmentns is $$20,000,$ Susan establishes as a defense against repayment within the meaning of the Higher Education Act of $1965$ that the school misled her and that its actions would give rise to a cause of action against the school under applicable state law. ED cancels Susan$$s outstanding student loan and reports the discharge to the IRS on Form $1099-$C $-$ Cancellation of Debt. Under the Tax Cuts and Jobs Act, Susan must include what amount of the cancellation of debt in her gross income on her income tax return?

A$.$ $$0$B$.$ $$5,000$C$.$ $$10,000$D$.$ $$20,000$