3 ms·

I believe anything forgiven is counted as income. So you're going to be hit with a huge tax bill 25 years later.

• rayiner 12y ago
  It's not clear how that will be handled, and in any case, because unpaid interest is not compounding, it's not as big of a tax bill as you might think.
  • s_baby 12y ago
    I believe it does compound but on a yearly basis instead of monthly. Personally I was considering putting all my loan money into bitcoins but decided to be responsible. Sort of kicking myself in the ass for that decision.
    • harryh 12y ago
      Pat yourself on the back for excellent process based decision making and ignore the outcome.
      • s_baby 12y ago
        I agree but it's hard to feel that way while jobless and in debt.