I am planning on borrowing from my uncle to pay for tuition, expenses, etc for nursing school. Tuition exceeds $14k. I'm planning on drafting a loan document to make it more "official" because he wants to charge me 0% interest and in case we get audited by the IRS at least we have some document that says he's charging me the AFR. He doesn't mind that I don't pay him back (I've made sure and the rest of the family knows) but I'm definitely going to pay as much as I can and conduct it as if he were a loan service provider because we have a great relationship and I respect him.
Here's the conundrum. He's old and retired and was an ex-vet. He currently gets social security, medicare benefits, etc every month. I was wondering if me giving him loan payments every month after I graduate would affect his benefits?
Submitted May 19, 2019 at 01:27AM by jerenebean http://bit.ly/2YB2ZBK
