Disclaimer: Student Loan Tutor is an independent business. We are not affiliated with and do not work for the US Internal Revenue Service (IRS) or the Department of Education. We are not a collection agency. All services are provided at the direction of our clients.
Most borrowers don’t realize that forgiven federal student loans are no longer tax-free. The IRS treats the amount forgiven as taxable income - often called phantom income - and it can create a massive unexpected tax bill.
Are you prepared to pay that tax event the same year your loans are forgiven? Do you know exactly how much you’ll owe and when the bill will come due?
Forgiven debt is counted as income.
If $100,000 of your loans are forgiven, the IRS may treat it as if you earned an extra $100,000 that year.
High tax brackets mean high bills.
Depending on your state, you could owe federal + state taxes on that “phantom income” as high as 40%+.
IRS penalties are steep.
If you can’t pay right away, the IRS may charge penalties on unpaid tax debt, far higher than student loan interest rates.
Student Loan Tutor is ranked 5.0 stars on the Better Business Bureau, Facebook and Google.
Since 2015, Student Loan Tutor has saved borrowers over $1 billion by helping them legally minimize student loan costs. We help you:
Time your forgiveness strategically - align it with years when your income is lower to reduce the tax hit.
Create a tax-safe repayment strategy so you’re prepared, not blindsided.
Coordinate with tax experts to minimize both federal and state liabilities.
Plan for long-term savings so you pay the least amount possible over the life of your loans.
Our average client owes $250,000+ in federal student loans, but we work with borrowers of all balances - especially professionals, parents with Parent PLUS loans, and anyone planning for forgiveness.
If you’re not sure when your forgiveness is scheduled, or how much you’ll owe in taxes, you are at risk.
Student Loan Tutor is the industry leader in strategy implementation and document processing for federal student loans.
With over 10 years of experience and a track record of helping over 10,000 individuals free up over a billion dollars in student loan debt, we are dedicated to helping borrowers like you achieve financial freedom.
Our expertise lies in tailoring student loan repayment strategies.
We help clients redirect their money towards wealth accumulation, retirement planning, and business investments, rather than conventional debt servicing.
We are maintaining a flawless record with Trustpilot and an A+ accreditation with the Better Business Bureau.
Our founder, a Forbes, Bloomberg, Yahoo Finance, and Fortune contributor, specializes in federal student loan debt. With a decade of contributions in this niche, he brings unparalleled expertise to our services.
5/5 stars. Established 2015.
Student Loan Tutor does what you wish your servicer did. For a fee for service, your Tutor will craft a custom repayment strategy that navigates the system to save you the most money allowable.
We then handle all of the paperwork and servicer follow up to ensure servicer errors are corrected and deadlines are met.
As your financial situation evolves and new laws develop we'll make sure you're always on track for the greatest possible savings.
Comprehensive strategies tailored to individual needs
Expert guidance through the complex loan system
Hassle-free paperwork and follow-up services
Error resolution and deadline assurance
We optimize your finances with timely, accurate annual recertification
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October 31, 2024
Catch Our Latest Podcast Feature on Better Wealth! Since 2015, we’ve saved our clients close to $1 billion on student loans. Our founder, Zack Geist, joined Caleb on the Better Wealth show to reveal strategies for navigating the maze of federal student loans, unlocking ways to minimize debt, and even achieving effective 0% interest rates.
January 4, 2024
"The fact that borrowers don’t have access to reliable and accurate information about their student debt is at the heart of the student loan crisis. Federal student loan benefits, public service student loan forgiveness, income-driven repayment plans and how to navigate them and student loan forgiveness have been a complicated mess for student loan borrowers to navigate since their inception."
December 18, 2023
Zack Geist said that federal student loans are almost always mismanaged and there is a crucial need for more access to the proper information and support to manage student loans. “Similar to how taxpayers seek guidance from trained and licensed tax professionals to ensure accurate tax filings and prevent overpayment, you should consult with a professional regarding your student loans,” added Geist.
Ready to take control of your student loans? Schedule a free evaluation.
Book your free 15-minute evaluation and let us determine if you qualify for a repayment strategy that lowers your monthly payments, maximizes forgiveness and protects you from surprise tax bills.
