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Topic	Dude on WSB paid off his entire student loan balance off with Gamestop stock
onedarksoul 01/25/21 10:44:07 PM #24:	harley2280 posted... So it's taxes you don't understand then? You pay the interest every month on your student loans along with your payment, and currently student loans aren't accuring interest. He's not getting any taxes reduced by paying off his loans. In fact there's a solid chance his credit score is going to decrease from paying them off. On top of the extra taxes he'll pay for only holding the stocks for short term. The interest accrues monthly, and is added to the principal. Assuming he had the loans prior to the pause, which is a reasonable assumption, when he files he will be credited up to a certain amount on all of the interest he accrued. --- Finish a game? Add it to our list! Beat 1,000 games: https://gamefaqs.gamespot.com/boards/213-nonstop-gaming-general/79214807 <cite>onedarksoul posted [p:949924011] in Dude on WS... [t:79259879]...</cite> <quote>harley2280 posted... </cite> <quote>So it's taxes you don't understand then? You pay the interest every month on your student loans along with your payment, and currently student loans aren't accuring interest. He's not getting any taxes reduced by paying off his loans. In fact there's a solid chance his credit score is going to decrease from paying them off. On top of the extra taxes he'll pay for only holding the stocks for short term.</quote>The interest accrues monthly, and is added to the principal. Assuming he had the loans prior to the pause, which is a reasonable assumption, when he files he will be credited up to a certain amount on all of the interest he accrued. --- Finish a game? Add it to our list! Beat 1,000 games: https://gamefaqs.gamespot.com/boards/213-nonstop-gaming-general/79214807</quote> ... Copied to Clipboard!
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