DC Tom Posted June 5, 2013 Share Posted June 5, 2013 Look up income based repayment for student loans. Here's some information regarding it. The loans will continue to accrue interest and grow, some to enormous amounts. At a specific time 10,15,20 years the loan will be forgiven. However it doesn't mention that that forgiven loan will hit your tax return as income and you could be responsible for paying as much as 50% of the forgiven loan in taxes. Funny, I didn't see that in this story from the WH's website. http://www.whitehous...t-loan-payments What's really funny is that, if a commercial lender omitted information like that, it would be considered fraud and a violation of federal banking regulations. But the federal government? They can commit fraud all they want. Link to comment Share on other sites More sharing options...
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