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Student Loans

Transferring from one college to another isn’t always the most seamless experience. Making sure your new school accepts your credits, adjusting your course load and possibly moving to a new campus can be difficult. How you pay for school is an extra layer of stress, which is why you’ll need to add managing your student […]

Having to leave school before finishing your degree is common.  Especially during the coronavirus pandemic, more students may have left school to help their families or to start working and earning money. Your student loans stay with you even if you leave school, and your loans will enter repayment. While they can’t be erased, student […]

The financial fallout from a divorce often catches people by surprise. When you’re going through an emotionally difficult life experience, money matters may take a back seat until the dust settles. But addressing financial issues early on will make the transition easier. That’s why, if you or your spouse have student loans, you should understand […]

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There’s nothing wrong with asking for help when you’re in need, and you might be surprised by just how willing people are to lend a hand. In fact, research shows that helping others is one of the best ways to improve your own happiness. So why not use crowdfunding to ask for help with your […]

One way the U.S. government has issued student loans is through the Federal Family Education Loan Program (FFELP). While the program ended in 2010, there are still many borrowers with FFELP loans. As of the end of 2020—the most recently available data—11 million people had outstanding FFELP loans, with balances totaling over $245 billion. If […]

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In a country where it’s common to have tens of thousands of dollars in student loan debt, getting a college education for free is a radical idea. Unless a full scholarship is on the table, most people may not consider it an option to go to college for free. But there are multiple ways to […]

If you’re graduating from high school this year but don’t feel like now is the right time to start college, you’re part of a growing trend. The Higher Education Research Institute reported that approximately 3% of all high school graduates take a year off from school before attending college, based on a 2018 survey. During […]

As bewildered families search for ways to save for their children’s growing college costs, 529 college savings plans—tax-advantaged investment accounts specifically for education expenses—are looking more attractive than ever. Over the course of 2020, after an initial decline and dramatic recovery in the stock and bond markets, total assets in 529 plans increased 18% to a new record high of $394 billion, according to a new report from Morningstar. The average plan balance also reached a high of $28,679 in December 2020, after the average account balance grew 10% in 2020, according to the College Savings Plans Network. Despite the...

A 529 college savings plan is an investment account that allows families to save for a child’s education-related expenses tax free. States run these plans, and while you don’t have to use the one your home state offers, you may get extra tax breaks for doing so. If your child receives generous scholarships or chooses […]

Working for yourself has many perks: Setting your own hours, choosing your pay rate and avoiding a regular commute are all big advantages of the gig economy. But the roller coaster of inconsistent income can make it difficult to afford regular bills, such as student loans, during slower months. Here’s how you can manage student […]

MoneyTips

Chances are that if you have student loans, you need every bit of extra cash that you can get. Did you realize that your student loans might be able to generate some cash for you?

Under certain circumstances, you may be able to save on your tax bill by deducting the interest that you pay on your student loan. The total deduction from your taxable income could be as much as $2,500. As a final bonus, you do not have to itemize to claim this deduction.

To be eligible for the deduction, your loan must meet certain qualifications. It must have been made to cover qualified education expenses as defined in IRS Publication 970, including tuition, fees, and most room and board charges. The loan cannot have come from a relative or via a qualified employer plan, and the e...

Your Unpaid Student Loan Could Cost You Your Tax Refund

9 Crucial Tax Deductions

Tax Shelters 101

MoneyTips

Chances are that if you have student loans, you need every bit of extra cash that you can get. Did you realize that your student loans might be able to generate some cash for you?

Under certain circumstances, you may be able to save on your tax bill by deducting the interest that you pay on your student loan. The total deduction from your taxable income could be as much as $2,500. As a final bonus, you do not have to itemize to claim this deduction.

To be eligible for the deduction, your loan must meet certain qualifications. It must have been made to cover qualified education expenses as defined in IRS Publication 970, including tuition, fees, and most room and board charges. The loan cannot have come from a relative or via a qualified employer plan, and the e...

Your Unpaid Student Loan Could Cost You Your Tax Refund

9 Crucial Tax Deductions

Tax Shelters 101

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