Below you'll find a list of all posts that have been categorized as “Living with Student Loans”
Saving for retirement might seem unrelated to student loan payments and debt forgiveness. Fortunately for many borrowers, it is possible to set money aside for retirement and eliminate student debt. In fact, saving for retirement can make it easier to repay federal student loans. The Connection Between Retirement Contributions, Monthly …
Editor’s Note: This article contains tax tips and suggestions for student loan borrowers filing their 2020 tax return (this is the return due in April of 2021). Most student loan borrowers realize that there is a deduction for student loan interest. However, there are many other student loan issues to …
Student loan refinancing can be a dramatic change to your student loans. Many borrowers fear that a student loan refinance could mean the end of the student loan interest tax deduction. Refinancing usually means a new lender, new interest rate, and new monthly payment. Fortunately for borrowers, in most cases, …
Deciding between attacking student loans and saving for the future in a Roth IRA is a difficult question. Many student loan borrowers may lean towards eliminating debt first. Retirement is a battle for another day. However, there are a couple of unique advantages to Roth IRAs that could make a …
Student loan borrowers can buy a house, but student debt can make qualifying for a mortgage difficult. Student loans affect a mortgage applicant’s debt-to-income ratio and credit score. Mortgage underwriters have historically been hard on income-driven borrowers, but things are getting better. Student loan refinancing and other strategies may minimize …
Income-Driven Repayment plans like IBR and PAYE mean borrowers can make payments based upon what they can afford rather than what they owe. What happens to student loan payments when a borrower gets a big gift or inheritance? Should borrowers expect their bills to increase? The good news for most …
Editors Note: This article was originally published on January 21st, 2018. It has been modified to include updated links to various federal student loan resources. In this edition of the student loan plan, we take a deep dive into one reader’s student loan situation. User Vickim34432 came by the student loan …
When planning your 2020 tax return (due April 15, 20201), an important detail that should not be overlooked is the student loan interest deduction. Unlike car payments or credit card bills, interest paid towards student loans can be a deduction on your taxes. It is one of many special considerations …
Deciding whether to pay off a student or car loan first can be a tricky question. Auto loans usually have shorter repayment periods, which means higher monthly payments. Student debt can be a minefield of confusion with the variety of repayment plans and forgiveness programs. Sadly, there isn’t an easy …
