2021 Tax Return Strategy, Tips & Deductions for Student Loan Borrowers
There are many different opportunities for student loan borrowers at tax time.
Latest Posts in Taxes
IBR and PAYE Strategy in Community Property States
Monthly payment calculations on income-driven repayment plans get especially complicated for borrowers living in community property states.
Why This Expert Thinks the Student Loan Tax Bomb Probably Won’t Happen
The clear trend shows that the student loan tax bomb probably won’t happen for the borrowers on IDR Plans like IBR, PAYE, and REPAYE
Student Loan Help From Family Could Mean Extra Taxes
Student loan payments from parents or grandparents can trigger an IRS gift tax, but exceptions exist to avoid having to pay any taxes.
My Plan for the Student Loan Tax Bomb
The student loan tax bomb may or may not happen. My plan uses a Roth IRA to save for retirement and prepare for big tax bill.
IBR and PAYE for Married Couples who Both Have Student Loans
Getting married doesn’t mean payments will double for couples who both have student loans, but payments may still go up.
Refinancing and the Student Loan Interest Tax Deduction
For most borrowers, a student loan refinance will not change eligibility for the student loan interest tax deduction.
Will Getting an Inheritance or Large Gift Increase My Student Loan Payments?
In most cases an inheritance or gift won’t impact your monthly student loan payments, but there is at least one exception that could cause payments to go up.
Taxes and Student Loans: Married Filing Jointly or Married Filing Seperately?
Married couples on IBR and PAYE need to carefully consider the pros and cons of filing taxes separately. It could mean a huge savings on your monthly student loan bill.