Americans now owe an astonishing $956 billion in student loan debt. The rate of student loan debt outpaced inflation last year – and keeps climbing. I should know: I am one of those still working to pay off student loan debt. I borrowed to pay for my education because I couldn’t afford to go otherwise….
Yesterday was Career Day at my kids’ school. So, around 9:00 a.m., I found myself standing in front of a room full of kids, touting the virtues of staying in school. I recited the saga of being the first in my family to go to college. I talked about how I loved what I do…
There are very few people that I like dealing with less than the folks who administer my student loans for law school. Undergrad, I managed just fine. But when I moved to Pennsylvania, I was forced to deal with the Pennsylvania Higher Assistance Agency (PHEAA). If you’ve ever dealt with PHEAA, you know they’re a…
My kids are still trying their best to soak up the last few days of summer. Lucky for them, school won’t start until after Labor Day which means that they have another 20 days left, not, mind you, that anyone is counting. In other towns and cities across the country, some students are already heading…
Taxpayer asks: I am retired and my wife and I support a son in college. We send him $2000/mo for room and board and I spend another $900/month paying off his Sallie Mae student loans. Is any of this deductible? If so, where do I declare it on my tax form. I generally use an…
I have a love/hate relationships with student loans. I love that they allowed me to go to college and law school – I couldn’t have done it otherwise. But I hate almost everything else about them. And as a tax attorney with two graduate degrees, I find it impossible to read my own loan statements…