Is the interest paid on student loans tax deductible?
I get asked this question quite a bit. Seems more and more people are wanting to know “is the interest paid on student loans is tax deductible”. Well, I’m not a tax expert, or any other kind of expert come to think about it, but thankfully, the IRS has answered this question for us. How helpful is that? I think that is the least they could do considering how much taxes we pay! Anyway, from what I understand from reading the info below posted on the IRS website, yes it is under certain circumstances. (you knew there had to be conditions didn’t you?) Here’s the official word from the horses mouth itself. Please, read this or ask a tax professional before you email me asking me “Can I deduct interest paid on student loans?” Because I’m going to point you to this article!
Categories: Taxes Tags: internal revenue service, irs, is interest paid on student loans tax deductible, Loan Provider, Student Loans, tax deductions, Tax Purposes
Can They Garnish My Income Tax or Wages If I Have Deferred Student Loans?
Rita Long asks: I have student loans in default. I have made arangements to pay my deferred student loans and I have been paying them on time for the last several months. I would like to know can they still garnish my income tax or wages although I am paying on the loans?
Categories: student loan advice, Student Loan FAQ's Tags: collection agency, defaulted student loan, Deferred Loans, garnished tax returns, garnished wages, garnishment, Income Tax, irs, student loan default, Student Loans, Three Months