April 15th is a day most are familiar with. For some, it means sending money off to Uncle Sam. For others, it means an influx of cash as a tax refund is issued.
Tax season with student loans can be a little different since student loans could impact your tax return in a couple different ways. In some cases, certain tax deductions can help borrowers decrease their tax liability (which is the technical term for how much an individual owes in taxes). Other times, the harsh consequences of struggling to make student loan payments kick in.
Taxes and student loans can be confusing enough on their own. When you combine them, it can feel like you are trying to navigate a maze. While everyone’s situation is different, there are some rules and regulations worth knowing.Read more