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Student Loans: Here's How To Save Money On Your Taxes

Want to save money on your taxes?

Here's what you need to know about student loans and taxes.

Student Loans: Taxes

If you made payments on your federal student loans in 2018, you may be able to save money on your federal income taxes.

1. Student Loan Interest Deduction

In certain cases, you can deduct on your federal income taxes the student loan interest you paid on your federal student loans.

Surviving Your Student Loan Crisis - The Financial Survival Guide

In Germany, riding the subway without buying a ticket is called schwarzfahren—quite literally “riding in the dark.” While it saves you money on the ticket, you’re always riding the train with a lingering fear that a fare inspector is going to discover you and slap you with a massive fine. Defaulting on your student loans is pretty much the millennial American version of schwarzfahren. You can’t ignore your student loans into going away (even declaring bankruptcy won’t get rid of them).

Consumer debt hits $4 trillion

Americans are diving deeper and deeper into the red.

As of this month, outstanding consumer debt exceeded $4 trillion for the first time, according to the Federal Reserve.

Relatively strong holiday spending, particularly in November, and increasing credit card debt added more than $41 billion in outstanding balances at the end of 2018, according to LendingTree, a loan comparison website, which analyzed the data from the Fed.

Student loan debt: Why employers may want to help payoff college loans

Employers eager to recruit and retain skilled workers in a tight labor

market have about 1.34 trillion reasons to expand their benefits

package to include assistance in helping employees repay their

student loans.









New work perk: Paying off student

loans  2:52 PM ET Thu, 14 July 2016 | 01:53

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2/18/2019 Student loan debt: Whyemployers maywant to help payoff college loans

There's a new way to instantly boost your credit score

A new credit assessment program could help millions of Americans instantly improve their credit scores, simply by adding data from their checking account.

Consumers who choose to use Experian Boost (an online platform set to launch early this year) give the company permission to access their online banking accounts to look at utility, cable TV and phone payments for the past 24 months. The entire process should take about five minutes and the updated FICO score is delivered to the potential lender instantly.

Prioritize Your Job's 401(k) Benefits Over Their Offers of Student Loan Help

Americans are shouldering around $1.48 trillion in student loan debt, and around 70% of college students who earn a bachelor’s degree borrow to attend college, according to research from Oliver Wyman, a consulting firm that focuses on banking. An employee benefit that’s gaining popularity could help ease that burden, but it may not be as good of a deal as employees think.

A new way emerges to cover college tuition. But is it a better way?

Nestled along the San Diego coastline, Point Loma Nazarene University is a world away from Wall Street. But the Christian liberal arts college is at the forefront of financial innovation.

Last fall, Point Loma began offering some of its 4,500 students money to pay for college in exchange for a percentage of their future earnings. The model, known as an income share agreement, requires colleges and students to take a chance on each other, a shared responsibility that attracted Point Loma.

Three tips to keep your college student from drowning in debt

Here's a secret to help your child grasp the real impact of student loan debt: Don't just think about the huge sum you've borrowed — focus on what you'll repay each month.

About 30 percent of college students said they feel confident with the financial terms associated with student loans, according to a survey by College Ave Student Loans. The lender recently polled 1,075 undergraduates.

The biggest issue that these young borrowers are missing is the fact that, at some point soon, they'll have to start repaying their loans each month.

“This would be a much better world if more married couples were as deeply in love as they are in debt.”
– Earl Wilson
"There is scarcely anything that drags a person down like debt."
– P. T. Barnum
“What I would like to do... once I take care of all my kids' student loans, is buy a red 1965 Mustang and fully restore it.”
– Mike Quigley
The road to success is always under construction
– Lily Tomlin
"If we don't change direction soon, we'll end up where we're going."
– Irwin "Professor" Corey
"Bankruptcy laws allow companies to smoothly reorganize, but not college graduates burdened by student loans."
– Robert Reich
"Nothing in life is to be feared. It is only to be understood."
– Marie Curie