Student loans, interest payments, and taxes: three things that have scared many people for years now. Read on to learn how these things can benefit you.
If you made federal student loan payments in 2018, you may be eligible to deduct a portion of the interest paid on your 2018 federal tax return. This is known as a student loan interest deduction. Don’t miss out on this opportunity to make the money you’ve paid work for you! Below are some questions and answers to help you learn more about reporting student loan interest payments from IRS Form 1098-E on your 2018 taxes and potentially get this deduction.
You Don’t Have to Pay for Help with Your Student Loans!
You’re at home about to start cooking (or microwaving, no judgment here) dinner when you get a phone call from an unknown number. The person on the other end of the line is promising to help you pay off all of your student loans. All they’re asking for is some of your personal information and an upfront fee. It sounds too good to be true, right? It probably is.
Even if you haven’t gotten a phone call exactly like that, you have probably seen the countless ads on social media offering to help you manage your student loan debt. While the U.S. Department of Education (ED) does offer some legitimate student loan forgiveness programs and ways to lower your student loan payments, they are all free to apply for through your official loan servicer. Don’t pay for help when you can get help for free!
Here are some signs that you’re talking to a student loan debt relief company instead of ED:
There’s so much information available about financial aid for college or career school that it can be hard to tell the facts from fiction. We’ve got you covered! Here are some common myths—and the real scoop—about financial aid and the Free Application for Federal Student Aid (FAFSA®) form.
Not attending the FSA conference this week? Learn from home using these resources.
With Federal Student Aid’s (FSA) Annual Conference in full swing in Atlanta, we understand that not everyone is able to attend and learn from financial aid experts. However, you don’t have to be a financial aid professional to become a FAFSA expert.
Here are the Top 5 FSA blog posts to help students and parents become FAFSA ‘pros’:
Secretary DeVos delivered the opening remarks at this year’s Federal Student Aid Training Conference, raising “a warning flag with American students and American taxpayers.” While noting that “our higher ed system is the envy of the world,” she also cautioned, “if we, as a country, do not make important policy changes in the way we distribute, administer, and manage federal student loans, the program on which so many students rely will be in serious jeopardy.”
In addition to her warnings about the looming student debt crisis, the Secretary also recognized administrators for their valuable work and shared some of the ways the administration is rethinking financial aid.
If you missed the Secretary’s speech, here are the three greatest takeaways for financial aid administrators.
Having one child who is heading to college can be stressful, but having to help multiple children at the same time can feel like too much to manage. While I can’t save you from a forgotten application deadline or the “how to do your own laundry” lessons, hopefully, I can help make the financial aid part of the process run more smoothly with these tips:
While the Free Application for Federal Student Aid (FAFSA®) form is the student’s application, we know that parents often play a large role in the process. After all, students who are considered dependent have to provide parental information on the FAFSA form anyway and must have a parent sign it. While we recommend that the student start his or her own FAFSA form, we know that’s not always what happens. With that in mind, we wanted to provide instructions for parents who are starting the FAFSA form on behalf of their child so you can avoid running into issues completing the form.
If you are a parent completing the FAFSA form for your child, follow these 8 steps:
Ah, deadlines. The sworn enemy of students across the nation. When you’re busy with classes, extracurricular activities, and a social life in whatever time you’ve got left, it’s easy to lose track and let due dates start whooshing by. All of a sudden, your 10-page term paper is due in an hour, and you’re only on page 5 (with the help of 26-point type and triple line spacing). We get it.
Nevertheless, we’re here to point out a few critical deadlines that you really shouldn’t miss: those to do with the Free Application for Federal Student Aid (FAFSA®) form. By submitting your FAFSA form late, you might be forfeiting big money that can help you pay for college.