<prompt> Human: Currently I have about 20k in student loans. My friend an ex... mocked up a proposal and he is offering to pay off my loans at a 3 interest rate over 6 years, no fine print. My original payoff term is 10 years at varying interest rates 3.25 - 6.55 Instead of consolidating, I wanted to pay off high interest loans first and then cruise through the loans with lower interest rates. I have a decent salary 60k, but still have a car loan of about 13k left to pay off at 1.9 APR for three more years. I cant imagine that accepting this deal would be a bad. A couple questions: What should I look out for or any advice to give?How does someone go about accepting 20k without getting flagged down by the IRS or getting taxed on the amount? Could he possible log into my student loan payment sites and complete the transaction for me?  <response>: I suggest you re-evaluate the non-financial potential repercussions of this transaction before you continue searching for financial answers. 