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Student Startup Plan

40 points by jdavid 13y ago

oatmealsnap 13y ago
Wow! This seems like is could be a really good initiative. Are there any success stories form this program yet?
- davidddavidson 13y ago
  It's not a new thing. It's just a different marketing strategy for income based repayment.
wtvanhest 13y ago
This isn't new, and it still causes the graduate's debt to increase very quickly so the risk is very real. If the gov paid the interest that would cause both moral hazard and reduce real risk on the graduate.
- flountown 13y ago
  Agreed, this is just a re-branding for the appearance of helping innovation. Now, if they were taking on student's private debt and letting them do IBR, that would be a program; however, the logistics and risk would be absurd.
ocfx 13y ago
Is Alison single?
maaku 13y ago
This is just the IBR plan, right? The one which has already existed for years?
jedanbik 13y ago
Did they really need to provide "fictitious examples?"
fredgrott 13y ago
something to know: Generally, if you are responsible for making loan payments, and the loan is canceled (forgiven), you must include the amount that was forgiven in your gross income for tax purposes. However, if you fulfill certain requirements, two types of student loan assistance may be tax free. The types of assistance discussed in this chapter are: Student loan cancellation, and Student loan repayment assistance. Student Loan Cancellation If your student loan is canceled, you may not have to include any amount in income. This section describes the requirements for tax-free treatment of canceled student loans. Qualifying Loans To qualify for tax-free treatment, for the cancellation of your loan, your loan must have been made by a qualified lender to assist you in attending an eligible educational institution and contain a provision that all or part of the debt will be canceled if you work: For a certain period of time, In certain professions, and For any of a broad class of employers. see: http://www.irs.gov/publications/p970/ch05.html http://www.irs.gov/publications/p970/ch05.html

40 points by jdavid 13y ago

oatmealsnap 13y ago

Wow! This seems like is could be a really good initiative. Are there any success stories form this program yet?

davidddavidson 13y ago
It's not a new thing. It's just a different marketing strategy for income based repayment.

wtvanhest 13y ago

This isn't new, and it still causes the graduate's debt to increase very quickly so the risk is very real. If the gov paid the interest that would cause both moral hazard and reduce real risk on the graduate.

flountown 13y ago
Agreed, this is just a re-branding for the appearance of helping innovation. Now, if they were taking on student's private debt and letting them do IBR, that would be a program; however, the logistics and risk would be absurd.

ocfx 13y ago

Is Alison single?

maaku 13y ago

This is just the IBR plan, right? The one which has already existed for years?

jedanbik 13y ago

Did they really need to provide "fictitious examples?"

fredgrott 13y ago

something to know: Generally, if you are responsible for making loan payments, and the loan is canceled (forgiven), you must include the amount that was forgiven in your gross income for tax purposes. However, if you fulfill certain requirements, two types of student loan assistance may be tax free. The types of assistance discussed in this chapter are: Student loan cancellation, and Student loan repayment assistance. Student Loan Cancellation If your student loan is canceled, you may not have to include any amount in income. This section describes the requirements for tax-free treatment of canceled student loans. Qualifying Loans To qualify for tax-free treatment, for the cancellation of your loan, your loan must have been made by a qualified lender to assist you in attending an eligible educational institution and contain a provision that all or part of the debt will be canceled if you work: For a certain period of time, In certain professions, and For any of a broad class of employers. see: http://www.irs.gov/publications/p970/ch05.html http://www.irs.gov/publications/p970/ch05.html