Long-Term Tax Strategies For Student Loan Borrowers

Long-Term Tax Strategies For Student Loan Borrowers

When you pay your taxes, make sure to include the amount of interest you paid on your student loans last year. That amount is deductible — you can save up to $625 depending on your tax bracket.

You need to save money while paying off your student loans. Contribute to your 401(k) the minimum amount necessary to get your employer’s matching funds. That’s free money! It’s one way to put some money toward retirement savings even while handling a hefty monthly payment. And remember — if you’re not making much right now, you may be eligible for an income-based repayment plan, or a loan term extension to minimize the payments due now. Just make certain that you won’t be paying so much more over time that it offsets the benefit of freeing up some immediate cash.

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Long-Term Tax Strategies For Student Loan Borrowers

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HealthStatus has been operating since 1998 providing the best interactive health tools on the Internet, millions of visitors have used our health risk assessment, body fat and calories burned calculators.The HealthStatus editorial team has continued that commitment to excellence by providing our visitors with easy to understand high quality health content for many years.
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HealthStatus has been operating since 1998 providing the best interactive health tools on the Internet, millions of visitors have used our health risk assessment, body fat and calories burned calculators. The HealthStatus editorial team has continued that commitment to excellence by providing our visitors with easy to understand high quality health content for many years.

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