I was told that if, for example, an individual has a Federal Student Loan and pays said loan every month for 20 years in accordance with their payment terms (eg, low payments due to low wages/ economic hardship/ etc.), at the end of the 20th year the debtor (in this case the Fed Gov’t) will file a 1099 to the IRS for the balance and the debt will be resolved. This is so long as payments were made on time and the borrower filed taxes properly each of those 20 years. I was also told this w

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COMPLAINT #1 (Office of Inspector General / Department of Education) “Anyone suspecting fraud, waste o

The IRS’ website is not clear on whether the student loans need to have defaulted or not. It just says if you owe the government for student loans the rebate will be applied to that. Any help is appeciated.

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