Can I deduct student loan interest if I wasn’t in school last year?

I graduated in January 2008. Can I deduct Student loan interest incurred in 2009? It says, “You can deduct Student loan interest if you were in a degree program and carried at least a half-time coarse load”. Yes, I meant interest paid, not incurred. I knew the answer to this. It’s just getting late and [...]

Can I deduct student loan interest if I wasn’t in school last year?

I graduated in January 2008. Can I deduct Student loan interest incurred in 2009? It says, “You can deduct Student loan interest if you had been in a degree program and carried at least a half-time coarse load”. Yes, I meant interest paid, not incurred. I knew the answer to this. It really is just [...]

How can the massive interest on my student loan be forgiven?

March 22nd ,2008 I am a USAF Vietnam Veteran. I went to school to improve my life. Ironicaly this Student loan has produced it worse and it is an impending doom lurking over my head. There are thousands of veterans in this same scenario who could be effortlessly helped. IS there anyone out there who [...]

Is it possible to postpone student loan consolidation to wait for lower interest rates rates?

I graduated six months ago with several federal Student loans combining much more than 40K. Is it much better for me to consolidate now or stay put? Will the fed cutting lending rates (now 3%) have an effect on the interest rates that loan consolidators provide? Will i be supplied either variable or fixed rates [...]

Do I get tax credits for student loan interest whilst nonetheless in school and the loan is in deferment?

I am at present a graduate student. I have a couple of unsubsidized Student loans that are nevertheless in deferment. Really should I be able to deduct the interest that is accumulating on the loan now, or am I only able to count that when I am in fact makign payments on the Student loan?

Student loan interest acceptable if gained via garnishment?

I have Student loan interest but have gained it by way of having my wages garnished. Can I nevertheless use this deduction or does it not matter?

Why would student loan interest lessen your refund?

42k gross this last year. If I input the Student loan interest I paid along with wages/earnings, my refund is $ 13. If I do not contain the Student loan interest paid, I get $ 340. Normally when I add in the student loan interest to my return, then my refund goes from $ 350 [...]

How typically does interest accumulate on an unsubsidized Stafford student loan from the government?

The interest rate on an unsubsidized Stafford Student loan is six.8%. How usually does interest acculumate on such a loan? For example, if my loan is $ 5000, how do I calculate when and how much interest is capitalized onto the loan. Thank you for your assist.

How typically does interest accumulate on an unsubsidized Stafford student loan from the government?

The interest rate on an unsubsidized Stafford Student loan is 6.8%. How typically does interest acculumate on such a loan? For example, if my loan is $ 5000, how do I calculate when and how significantly interest is capitalized onto the loan. Thank you for your aid.

Moving costs and student loan interest- I can nevertheless claim standard deduction?

I just want to make confident I recognize something right here.. When claiming moving expenditures and Student loan interest on 1040 lines 26 and 33, I can nonetheless claim the regular deduction, right? This does not demand itemization of deductions?

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