<prompt> Human: Going on IBR and forgive in 20 years with my current income, finaid caculator says that I will have 330,000 forgiven, which at 40 tax is about 132,000.Will all of it be due that year? If you cant pay it, will the government take your savings? house? retirement? car?  <response>: It will all be due when you file your tax return. Theoretically, you could go on a payment plan to the IRS to spread the cost out over 5 or so years.If you dont pay, they will take the money from any future tax returns, will probably garnish your wages, and can seize your assets house, car, etc.. The IRS has pretty broad powers about stuff like that.Of course, what lengths the IRS will go to have yet to be determined as no loans have been discharged. 