How to get a college loans paid off..for free??

Crack the code to get your college loans paid off…for free! Guest Blog Post by Steve Hartel

There are some brand new government programs out there that may be able to help you with your student loans. On the surface, they sound great. What’s that? You can reduce my payments and maybe get part of my loan totally forgiven? Where do I sign up? Unfortunately, it’s not quite that easy. Remember, this is a GOVERNMENT program. I think it’s actually illegal to use the words “easy” and “government” in the same sentence.

So, what’s so bad about having Uncle Sam say, “Steve, yesterday you owed us $200,000 in student loans, but today we are wiping those loans off the books and you don’t owe them anymore.”? Well, like many government programs, the devil is in the details. It turns out that having debt forgiven is a taxable event. So, instead of having up to 30 years to repay the original $200,000, you now owe $50,000 in taxes next April 15. Holy smoke! If you are like many people, you are sitting there thinking, “Sam, if I had $50,000 sitting around, then I wouldn’t be worried about my student loans in the first place! Duh!”

OK, so this site is supposed to be about how to get stuff for free or nearly free and $50,000 does not sound like free to me. Let’s get to it. I have cracked the code. I have figured out how to get your payments lowered but not have to worry about that big tax bill. Don’t worry, it’s totally legal or else Kathy would never have let me do a guest blog about it on her site. You still have to pay Uncle Sam his money. I just show you a secret way to get it.

Unfortunately, not everyone qualifies. Certain combinations of age, income, family size, loan type, and loan amount just don’t work. The good news is that it doesn’t cost you anything to find out. You just fill out a simple questionnaire and I run the numbers. If it works, sweet! If not, maybe there is another way I can help you achieve your financial goals besides lowering your student loans.

That’s it for now. I’ve been a big fan of Kathy’s site for a long time and it’s been an honor to have the opportunity to let her readers in on a big money-saving secret. If you want more details, just send me an email to [email protected].

Steve Hartel is a licensed, independent financial planner with Trilogy Financial Services. One of the things that sets Steve apart from other advisors is his commitment to thinking holistically and creatively so that he can help his clients work towards their unique financial goals. He is attracted to the energy of those who shape our world and future such as business owners, educators, and entrepreneurs. Steve is dedicated to helping clients achieve financial independence through practical, values-driven financial plans. He is a regular speaker at conferences, has appeared numerous times on Money Matters Radio (1120 AM in Boston), and was recently interviewed on Channel 4 news in Boston for advice regarding winning the lottery. Steve has also been written up in both the Boston Herald and Lowell Sun for teaching classes about money to children in local schools. His office is located in Woburn, MA.

This post was originally published on May 5,2013