” called for a single student loan repayment plan capped at 12.5% of a borrowers’ income and suggested borrowers would see their student debt forgiven after 15 years of making full payments.”
Will I be able to get a mortgage with those terms?
What the kids don’t realize is that when the loans are forgiven, it’s counted as income in that year. Taxes go up. Any zer0care subsidies must be repaid in that year as a tax obligation.
I know someone in this situation. They had to negotiate w/the IRS to pay their increased taxes off over time.
Nothing is free forever.