Comments on: Private Loans vs. Parent Plus Loans

By: Bruce Scoville

Bruce Scoville — Wed, 22 Apr 2009 22:31:41 +0000

What I find amazing is the attitude of a lot of college aged folks these days. Somehow they believe a college education is owed to them by their parents even if they can’t afford it. What ever happened to the co-op program. It takes 5 instead of 4 years to graduate but you still have your college education. All you have to do is work a quarter go to school for a quarter and repeat as many times as necessry, or how about night school? You have a regular job during the day and go to night school. I went to night school part of the time and it is not the most fun ever, but you still end up with a degree. You see these ads on television where the kid is all excited because they have been accepted into a nice college. Then they get a sad downtrodden look on their face and say I know you can’t afford to send me there. I guess I won’t be able to get a degree. How very sad they don’t feel like working for it. Last week on television a 17 year old girl was accepted into a state university with a scholarship. She did not want to go there because it was to close to where her family lived. She wanted a private school in another state, even though it cost about ten times as much for her to go there. It did not seem to matter to her she was going to break her family financially. How very sad and self centered. The work ethic in this country is sure not what it once was, and the younger generation has become known as the me generation. It did not bother her at all she might brek hr family financially as long as she got what she wanted. This I am sad to say is a very self centered attitude.

By: David Bonvie

David Bonvie — Fri, 23 Jan 2009 14:47:55 +0000

If the lender sends you a 1098e form (interest deduction notification) than yes. Usually these forms will only go out if you have reached $600 in accrued interest on the year. You should also consult a qualified tax attorney.

By: C. Snow

C. Snow — Tue, 06 Jan 2009 16:30:24 +0000

What if you cosign for your boyfriend’s child and the child who promised to pay defaults? Can I as a person not related but the cosigner on the student load who has been making the loan payments for the last 2 years write this off on my taxes?

By: David Bonvie

David Bonvie — Mon, 05 Jan 2009 16:55:24 +0000

Yes. The parent who has the parent plus loan in their name is eligible for the tax deduction regardless of whether they are claiming the student on their taxes. The maximum education-loan-interest deduction is $2,500. Income limits and other conditions apply to the education-loan-interest deduction.

By: Diana

Diana — Wed, 31 Dec 2008 04:06:26 +0000

What if the parent is not the parent whoclaims the child on their taxes; can the loan still be taxed deductable?

By: shay

shay — Mon, 27 Oct 2008 18:54:38 +0000

very good

By: Jessica Conner

Jessica Conner — Sun, 13 Jul 2008 14:48:59 +0000

Is this student loan attainable for a private Christian college?

By: carla

carla — Wed, 09 Jul 2008 09:54:27 +0000

whats a student to do that has no cosigner or parents to cosign but still needs loan to manage the living expenses books ect…