How will my student loans affect my tax returns?
November 25, 2008 | 4 Comments
Heather S asked:
I am going back to school and took out some student loans to get me through it. I am wondering if these student loans will affect tax returns even though I won’t be making any payments for a coupklel more years till I graduate. Just what should I expect.
I am going back to school and took out some student loans to get me through it. I am wondering if these student loans will affect tax returns even though I won’t be making any payments for a coupklel more years till I graduate. Just what should I expect.
Do lenders view student loans just as they do other debt such as credit cards?
November 24, 2008 | 8 Comments
BeatTheGib asked:
Basically my question is this: In a lenders eyes and for credit reporting/scoring purposes, are all loans viewed equally? Other than the commonly lower interest rates on student loans, is there any reason more attention should be given to credit cards and other loans when constructing a debt-reduction program? What are the pros and cons?
Some people seem to missing the point of my question (Hope). My credit is fine though I do have student loans for my undergrad and graduate education. I pay ALL of my bills ON TIME. I know lenders look at a debt-to-available credit ratio. I also know this is a variable in the formula they use to calculate your credit score. Because often times student loans are a necessary evil whereas credit cards aren’t, is there any difference in how their viewed for those purposes.
Basically my question is this: In a lenders eyes and for credit reporting/scoring purposes, are all loans viewed equally? Other than the commonly lower interest rates on student loans, is there any reason more attention should be given to credit cards and other loans when constructing a debt-reduction program? What are the pros and cons?
Some people seem to missing the point of my question (Hope). My credit is fine though I do have student loans for my undergrad and graduate education. I pay ALL of my bills ON TIME. I know lenders look at a debt-to-available credit ratio. I also know this is a variable in the formula they use to calculate your credit score. Because often times student loans are a necessary evil whereas credit cards aren’t, is there any difference in how their viewed for those purposes.
How do I pay defaulted student loans to save my credit?
November 24, 2008 | 2 Comments
Colts Fan asked:
I am a single mother of three, so even a good income has to be very well budgeted. I have roughly $100,000 in defaulted student loans, so most consolidation and other programs are out of the question for me. I have been asked to pay more than I can afford monthly for these loans. What can I do to both get these paid and save my credit?
I am a single mother of three, so even a good income has to be very well budgeted. I have roughly $100,000 in defaulted student loans, so most consolidation and other programs are out of the question for me. I have been asked to pay more than I can afford monthly for these loans. What can I do to both get these paid and save my credit?