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deleted1100659
Assuming if they gave you an alloted reimbursement for loan repayment each year that would still be taxable income right?
Possible to get loan repayment through job offer without it being taxed?
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Yep
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VA loan repayment (EDRP) is not taxed.
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deleted1100659
Damn. Job offer he basically stated he could structure some of my salary as loan repayment or just have it straight salary but I guess ultimately it wouldnt matter
Yeah, you might as well just take it as salary, because then you don’t have to jump through any hoops to get it, like reporting loan payments to your employer, and you can use the money however you like.
This tax situation is one of the reasons I’m going for PSLF. PSLF is not taxed. Plus, if you had a qualifying employer who offered some loan repayment, you could try to negotiate a way that you could use the loan repayment towards your qualifying payments. I have heard that can sometimes be difficult with some employers depending on how they disburse the loan repayment funds. For instance, some will give you the money, in which case it’s not too much of a problem, but others will directly pay the the loan company in an annual or biannual lump sum, which would not be as helpful for PSLF. But I’ve also heard that employers are sometimes willing to negotiate on that and work something out so that you can use the funds towards your monthly payments.
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deleted1100659
originally my plan was plsf but ive been nervous- a lot of facilities will start out not for profit and change their status, plus the current not for profit job im at im not too fond of so im just planning on paying them off asap
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Always take it as salary (*unless you have a spending problem*). I worked for a job that had this, they send a check to the loan provider directly then you have to pay taxes on it separately (it's a pain). They messed up the first year so I now owe back interest to the IRS. Then when interest rates when to 0%, it caused them to overpay my final payment which went straight back to the employer. Also, higher base salaries are better for future negotiation, CoL, disability insurance, etc.
