Re:The Number of Older Student Loan Borrowers Is Rising
by bradleyjg on Thursday January 12, 2017 @11:23AM
(#13383477)
There's a second out of forgiveness after 240 payments, though last I check it is unclear exactly what the tax consequences are for that type of forgiveness (public service forgiveness does not incur a tax liability).
Re:The Number of Older Student Loan Borrowers Is Rising
by rhino369 on Thursday January 12, 2017 @11:40AM
(#13383672)
>it is unclear exactly what the tax consequences are for that type of forgiveness
It's treated as taxable income unless you are insolvent, which you might be if you owe a lot of money.
Unfortunately interest keeps doing its thing so many people will see their loan amounts increase once on IBR.
This leaves their only likely out as forgiveness by making 120 payments and working for a gov/education institution for 10 years.