I am working as a consultant and file joint taxes. I am paying student loans but don’t know what is the minimum you have to make a year to get a tax deduction for it. Any ideas?
I owe about 220,000 in student loans (75,000 in private loans, 110,000 from direct loans (sub and unsub) and the rest from AES (sub and unsub)) plus 5,000 credit card debt and I just CAN’T get a job in this economy. Is there anyway to claim bankruptcy and get rid of the student loans?
So i’m starting college in August and just had a few questions. I’ve already received my financial aid award letter from my school and have figured that at the best I’ll have to borrow $ 30,000… however at the worse (and by worst I mean taking into the account of the current 6% inflation of tuition cost for private universities) Ill have to borrow $ 37,000. This is using all of my financial aid I’ve received btw.
So not taking into account a 6% increase per year = $ 30,000
and taking into account = $ 37,000
Now my question
After doing alot of shopping around it looks like i’m going to go with SalieMae for my loan company, because their smart option repayment plan says I can save about $ 3000 and have a lower total cost that all of the other loans I’ve looked up all by paying about $ 80 a month (Which I can afford because I already have a part-time job lined up that will be flexible with my school hours)
But what I’m wondering is Will I even be accepted for the loan. If I go on the SalieMae website and fill out their information fields and submit it, If i’m accepted, will I automatically HAVE to go with that loan? Because for right now I just want to know if i’ll be accepted for it seeing as how I will not have a co-signer (parents have bad credit) and I dont have much of a credit history myself just starting out working this year.
So in summary my question is… If i fill out the forms on a student loan website and all my information, if accepted, will I HAVE to go with THAT loan?
Thanks in advance for your help