How would one best model a big (six-figure) student loan that's under the Public Service Loan Forgiveness program, where after a certain number of payments, the rest are forgiven (let's assume it will be, for now!)?
Can I do something on the Investment Loan page with the balloon payment in the interest only field? I could put in a windfall in the income section for the balance that will be forgiven in 2026, but how to apply that directly to the loan to pay it off? Or, under the "children's" college expenses page (even though it's for the single person/adult)? But still the forgiveness part is a problem.
I could reverse engineer it to a loan amount based on the interest rate and payment amount, such that it will be paid in 2026, but that throws off the actual interest cost.
Bill,
I think maybe doing a an investment loan with a balloon payment in conjunction with a non-taxable windfall to offset that balloon payment might work.
Stuart
