can i deduct student loan interest

Is my student loan interest deductible?

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Question: ” Is my student loan interest deductible?” Answer: Assuming you meet certain requirements, you may be able to claim all or part of the student loan interest that you’ve incurred during the year. Generally, a qualified education loan is a debt you incur to pay qualified higher education (undergraduate and graduate) expenses for yourself, your spouse, or a dependent at an eligible educational institution in a program that leads to a degree. The IRS … Read More

5 Steps to Take Control of Your Student Loans

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It is frightening to see the statistics. According to a recent report issued by the Consumer Financial Protection Bureau, the size of the U.S. student loan market is over $1 trillion and there are approximately 7 million borrowers that are in default with their payments. Student loans are unique in that they’re one of the few debts that can not be discharged with bankruptcy. The only reliable way to get out of your student loans … Read More

A parent's dilemma credit cards in college

College students and credit cards: A parent’s dilemma?

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Question: Our son is in his first semester of college and so far we have skirted the issue of getting him a credit card. Are we making a mistake by not letting him have his own card? Answer:  Sending kids off to college isn’t easy. Even though you think it’s time for your child to experience life on their own, you know they’ll still depend on you for some financial support and one of … Read More