theodp writes: In April, Apple locked in an insanely-great 2.415% interest rate on 10-year bonds offered as part of an unprecedented $17 billion bond sale (Apple's first since 1996). Bloomberg reports that Apple sold the bonds to help funnel money to shareholders in a bit of financial engineering, saving as much as $9.2 billion in taxes by avoiding the use of about $100 billion of cash it holds offshore. Meanwhile, seven million college students saw their interest rates doubled to 6.8% from 3.4% Monday after Congress failed to pass legislation preventing the increase on government-backed Stafford loans. Hey, don't let the IRS catch you trying to avoid paying any taxes due on the income you use to pay back those higher interest rate loans, kids, or there'll be hell to pay!
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