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ernest_t_bass's avatar

ernest_t_bass

12th Son of the Lama

24,984 posts
Apr 17, 2014 10:02 AM
justincredible;1605998 wrote:My buddy ended up getting nailed. Paid off a sizable student loan with some help from his parents. Because they were paying it off at once they worked out a deal with the lender and they knocked $9k off the total. The IRS says that $9k discount is income and he now owes them $2500. They can GFT again.
Wow. That's f'd up.
Apr 17, 2014 10:02am
SportsAndLady's avatar

SportsAndLady

Senior Member

35,632 posts
Apr 17, 2014 10:08 AM
ernest_t_bass;1606073 wrote:Because the credit cards had zero % interest? I'm glad you're concerned, though.
0% interest for how long?
Apr 17, 2014 10:08am
ernest_t_bass's avatar

ernest_t_bass

12th Son of the Lama

24,984 posts
Apr 17, 2014 10:11 AM
SportsAndLady;1606077 wrote:0% interest for how long?
18 months. Throughout my masters, I opened 0% cards, paid them off before interest kicked in, then cancelled them. I preferred this route over loans. Why? Because.
Apr 17, 2014 10:11am
M

MontyBrunswick

Apr 17, 2014 10:36 AM
Belly35;1606071 wrote:Brown Mackie Entitlement Students don't care they don't plan on ever paying anything back ... that how they roll. That what happens with an Entitlement Society and a antiquated Social Services System that encourages and rewards poverty, incompetency and lack of responsibility.
Student loans don't disappear, even when filing for bankruptcy. There's no way to avoid paying for them sooner or later.

Hope this helps.
Apr 17, 2014 10:36am
SportsAndLady's avatar

SportsAndLady

Senior Member

35,632 posts
Apr 17, 2014 10:37 AM
ernest_t_bass;1606082 wrote:18 months. Throughout my masters, I opened 0% cards, paid them off before interest kicked in, then cancelled them. I preferred this route over loans. Why? Because.
Ok 18 mo makes sense. I thought you got your masters 3+ years ago I was going to ask you where you got a 0% interest card for that long.
Apr 17, 2014 10:37am
M

MontyBrunswick

Apr 17, 2014 10:41 AM
ernest_t_bass;1606082 wrote:Throughout my masters
Who would've thought you're educated?
Apr 17, 2014 10:41am
ernest_t_bass's avatar

ernest_t_bass

12th Son of the Lama

24,984 posts
Apr 17, 2014 11:01 AM
dlazz;1606094 wrote:Who would've thought you're educated?
Not you, I guess?
Apr 17, 2014 11:01am