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Six Student Loan Loopholes that Borrowers can Take Advantage Of
Episode 146
Published 4 years, 9 months ago
Description
In this episode's consultant takeover, Molly Laughter, MBA CFA, CFP®, and Meagan Landress, CSLP®, dive deep into the student loan repayment loopholes that are available for borrowers — depending on certain factors such as family situation and where they live. Molly and Meagan also discuss tax implications, including those for individuals or families who live in a community property state versus those who don't, as well as for those who live abroad and earn foreign income.
In today's episode, you'll find out:
- The ins-and-outs of the Double Debt Loophole
- Defining Community Property States
- Taking advantage of the Breadwinner Loophole
- How the Reverse Breadwinner Loophole can help borrowers
- Why a competent tax professional is crucial for student loan repayment
- Understanding the Foreign Earned Income Exclusion for those living abroad
- How the REPAYE Interest Subsidy works
- What to know about the Double Consolidation Loophole for Parent PLUS Loans
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