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One should bear in mind that most of those student loans used money from Sallie Mae, a tax-funded government corporation for student loans (like Freddie Mac is for home mortgages) and sold using the notion that said student would have a job that would pay enough to cover the principal and the interest. For many of them, that didn’t happen.
B4ItNs over 2 years ago
I’m sure the IRS will consider it as taxable income
Andrew Bosch Premium Member over 2 years ago
One should bear in mind that most of those student loans used money from Sallie Mae, a tax-funded government corporation for student loans (like Freddie Mac is for home mortgages) and sold using the notion that said student would have a job that would pay enough to cover the principal and the interest. For many of them, that didn’t happen.