Skip to main content
No. of Recommendations: 0
Another thing you might consider is the deductibility of interest on student loans from your federal income tax. I believe you can deduct up to 2,500 a year from your fereal income tax for interest paid on student loans. So if you're going to be deducting the interest anyway, I believe that the lower rate may not really helpful while the principal reduction will lower your payments. Be careful with this deduction however, I believe the phase-out for taking it is an AGI around 50,000.\

Scott
Print the post  

Announcements

What was Your Dumbest Investment?
Share it with us -- and learn from others' stories of flubs.
When Life Gives You Lemons
We all have had hardships and made poor decisions. The important thing is how we respond and grow. Read the story of a Fool who started from nothing, and looks to gain everything.
Contact Us
Contact Customer Service and other Fool departments here.
Work for Fools?
Winner of the Washingtonian great places to work, and Glassdoor #1 Company to Work For 2015! Have access to all of TMF's online and email products for FREE, and be paid for your contributions to TMF! Click the link and start your Fool career.