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which of the following are the consequences of failing to repay a loan? (Select 3 that apply) The outstanding loan balance is reported as taxable
which of the following are the consequences of failing to repay a loan? (Select 3 that apply)
The outstanding loan balance is reported as taxable income.
The participant loan default is reported o nthe participant's credit report.
The participant may not be eligible for another loan from the plan. The participant loan continues to accure interest until there is a distributable event.
The participant is not eligible to make salary deferral contributions for six months following a loan default.
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