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3
Posted on 3/3/14 at 2:14 pm to lsuhunt555
Then the govt (public) will be stuck footing the bill.
Yeah, that's how it works in a nutshell.
Yeah, that's how it works in a nutshell.
Posted on 3/3/14 at 2:15 pm to lsuhunt555
quote:
So because this cat wont just go get a job, hell be in debt until he dies?
yep
Should probably just shoot him in the head and seize everything he owns and give it to the bank.
Posted on 3/3/14 at 2:20 pm to lsuhunt555
quote:
So because this cat wont just go get a job, hell be in debt until he dies?
No. Federal loan forgiveness takes place in 25 years for loans before 2014, 20 years for loans after. However, you pay an "income tax bomb" on the forgiven amount. This is a serious issue in the future. But, if he can pay his tax bill, he'll be fine, or he'll file bankruptcy at that time.
For public service, forgiveness comes in 10 years with no income tax liability.
This post was edited on 3/3/14 at 2:21 pm
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