Question by mtpizzo: In order to defer college student financial loan repayments, can I keep in college once and for all?
I have done the math, and the cost of attending neighborhood college portion time, would be significantly less than the fascination on my university student loans.
The following is an case in point of my condition: On graduating, the annual curiosity on my subsidized university student loans will be about $ one,500 per yr. The expense of attending component time (six hours) at a nearby junior college functions out to about $ 1,000 for each year soon after fees of books, expenses, and many others. So, I would help save $ five hundred for each year by attending junior school and deferring my fascination.
Now it gets even better…
I can deduct only $ 2,500 a year in college student financial loan curiosity. Based mostly upon my total fantastic financial loans, I will have significantly more than that from only my unsubsidized loans. So, I would get no tax deductions from spending the fascination on my subsidized college student loans. Nonetheless, if I go to junior higher education, I could deduct my training expense.
Now, I am not preparing on never spending back my pupil financial loans. I hope to function, go to JuCo and pay my financial loans at the same time.
Remarks?
Actually, 50 percent time enrollment leads to a deferment: see this website link: http://studentaid.ed.gov/scholars/publications/repaying_financial loans/2003_2004/english/repayment-possibilities-deferment.htm
Best reply:
Solution by trigam41
If you might be only in college portion-time, your loans get started accruing interest.
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