When a job says loan forgiveness as a benefit, does that mean they pay off your loans?

View your credit file based on any of the UK credit reference agencies, or all three at once
LifeLock is the only Identity Theft Prevention Solution backed by a one-million dollar guarantee!Click here to get a 10% discount.

LifeLock Identity Theft Prevention - Save 10%

Not quite. It means that you will no longer be held liable for the loan, or for a portion of the loan. But no money changes hands. If the employer holds the paper for the loan, they just write off part or all of it as unpaid, but not in arrears.

Ask what this would mean as far as your taxes. If they forgive $5000, for example, does that show up on your W2 as the equivalent of $5000 in income? If so, will you pay taxes on that amount?

That's not necessarily a bad thing, because the taxes on it would be less than the full amount. But it's worth knowing about ahead of time.

When a job says loan forgiveness as a benefit, does that mean they pay off your loans?

find something at http://credit-guide.com.cn/

When a job says loan forgiveness as a benefit, does that mean they pay off your loans?

Topic