I have a question regarding student loan debt forgiveness.
My wife has $50,000 in student loan debt. However, she is now a stay at home mother and earns zero income. We pay $340/month and it is only paying off the interest! The principle essentially remaining stagnant.
The company that services her student loan mentioned that if were to file married but separately that she would claim zero income and this would then adjust her student loan payment to $0/month. If we did this for 10 yrs the debt would eventually be forgiven.
Is this correct?
I make $100k/yr so that is our income. How would our taxes change if we filed separately? We have 3 children if that helps to figure it out.