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re: Student Loan Repayment Options Explained
Posted on 4/15/15 at 11:24 am to GreenTrout
Posted on 4/15/15 at 11:24 am to GreenTrout
quote:
Currently doing this, and I printed out the IRS publication that mentions it being tax free. I'm almost 95% sure that when it comes time to write it off someone will drop the ball and issue me a 1099. At which point I will take the position it is not taxable and attach a copy of my IRS publication.
Thats a great idea. Besides being 10 years less, the biggest difference in the normal forgiveness and the Public Service forgiveness is the tax liability.
2
Posted on 4/15/15 at 11:27 am to anc
Public Loan Forgiveness should be more widely discussed. So, so many people can benefit from it: nonprofit employment (no matter the field), state/federal or other government employment, teaching...literally millions who qualify are probably unaware that they do.
Posted on 4/15/15 at 11:28 am to anc
Standard repayment plan is 10 years so to me it wasn't any difference in terms of payment length. Using the PLSF and the IBR plan is currently saving me a buttload each year. Granted at current career trajectory it will end up being a wash in the later years.
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