Are Student Loans considered income to the IRS?

Question by JacobG: How much more should an APR be than the base mortgage rate?
What is a typical spread for the base mortgage rate to APR for a jumbo mortgage?

I am applying for a 30-year fixed jumbo FHA loan and was quotes a mortgage rate of 5% but with an APR of 5.69%. Is that spread typical (i.e. 0.69% more)?

Best answer:

Answer by Itchy1977
not that simple I’m afraid. APR is an incredibly complex equation to take into account compounded interest and any hidden charges.

The flat rate is the actual interest rate. APR is simply for comparing the overall cost between lenders. It actually bears no resemblance to the rate you pay.

What do you think? Answer below!
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Question by Marian: How did the real estate business collapse?
How many billionaires were involved in this scam? When & what year will this recover?

Best answer:

Answer by kemperk
in college classes on economics, sildenafil we learn two critical terms;
micro and macro economics. that means, local and Nationwide.

RE did not collapse everywhere but in parts of many cities and states.

Thus, your query, collapse, is accurate only in the micro sense; only certain city’s RE fell
heavily………..in some cities, no RE fell.

How many billionaires were involved? Few. Much of it occurred because speculators
in CA or a few other states, got pinched with high gas prices and stopped buying RE.
Also, unfortunately, the speculators forced prices up ARTIFICIALLY. By this summer
when things will bottom out, prices will not be LOW, but actually, where they were
10 yrs ago, before the artificially High prices started.

I know, factually, in 3-7 yrs, based on where a person lives, RE prices will be where
they were 2 yrs ago. IT is a researchable roller coaster. But it always ends higher
except where political injection or land harm occurs.

What do you think? Answer below!

Question by noggle4: Are Student Loans considered income to the IRS?
If I get student loans in the amount of 34900.00, order and put into a checking account (private student loan) is this income that I have to report?

Best answer:

Answer by jphenor
No it is a LOAN. You will have to report and gains from it, such as interest etc.

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