<p>OP, let me tell you about screwed.</p>
<p>My oldest daughter worked 2011- 2012 school year for a private school that did not pay her for the last five months of her contract (she taught every day anyway) and then declared bankruptcy. Turns out that they withheld income taxes for her January through March (when she was paid on March 30 for what they had owed her since November of 2011), and did not submit those withholdings. </p>
<p>So now she gets to pay the taxes a second time. As a public school teacher she now earns about half of your son’s salary. She paid well over $3K in student loan interest last year, but that is more than the deductable amount.</p>
<p>To complain about a pretty small amount of money in a world where so many college graduates have no job or are vastly underemployed is pretty sad.</p>