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TFA | Paying Off Student Loans
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Sidney Kess, JD, LLM, CPA, James R. Grimaldi, CPA, and James A.J. Revels, CPA
According to the Federal Reserve (https://www.federalreserve.gov/releases/g19/current/), there was nearly $1.4 trillion in student loan debt outstanding in September 2016. About 60% of all college graduates are saddled with student loans; for those who go to law school, medical school, or other graduate programs, outstanding debt of $250,000 or more is not uncommon. The repayment burden is substantial for many; however, there are some strategies for paying off such debt. Some of these strategies have tax consequences; all have financial consequences.
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