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Topic	Dude on WSB paid off his entire student loan balance off with Gamestop stock
harley2280 01/25/21 10:51:47 PM #26:	_Rinku_ posted... 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. I imagine a lot of student loans have a large accrued interest already that doesn't get knocked out with each monthly payment. The freeze on interest actively accruing didn't eliminate already accrued interest. Anybody with any financial sense would pay off their accured interest every month other wise you'll never pay off the loan. Even if he did have interest that's going to be small compared to the taxes. My point is hopefully he put aside the money he needed to for the taxes on that or else the IRS is going to fucking ravage him next year. --- Posted with GameRaven 3.6.0_B3 <cite>harley2280 posted [p:949924289] in Dude on WS... [t:79259879]...</cite> <quote>_Rinku_ posted...</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> I imagine a lot of student loans have a large accrued interest already that doesn't get knocked out with each monthly payment. The freeze on interest actively accruing didn't eliminate already accrued interest. </quote> Anybody with any financial sense would pay off their accured interest every month other wise you'll never pay off the loan. Even if he did have interest that's going to be small compared to the taxes. My point is hopefully he put aside the money he needed to for the taxes on that or else the IRS is going to fucking ravage him next year. --- Posted with GameRaven 3.6.0_B3</quote> ... Copied to Clipboard!
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