Message Font: Serif | Sans-Serif
No. of Recommendations: 0
That's a good point. There are two things to think about regarding the tax implications of your debt.

1. If he doesn't have a high paying job, he is probably not paying enough money in taxes to capitalize on refunds.

2. There are limitations on how much interest you can get back from the government.

i.e. I pay close to ~$5,000 in student loan interest. The most that I can receive on a refund is $2,000. That, in my opinion, is not "GOOD DEBT".

Print the post  


When Life Gives You Lemons
We all have had hardships and made poor decisions. The important thing is how we respond and grow. Read the story of a Fool who started from nothing, and looks to gain everything.
Contact Us
Contact Customer Service and other Fool departments here.
Work for Fools?
Winner of the Washingtonian great places to work, and Glassdoor #1 Company to Work For 2015! Have access to all of TMF's online and email products for FREE, and be paid for your contributions to TMF! Click the link and start your Fool career.