<reccoso[at]gmail.com> wrote

- quote -

Since the student loan interest phases out at around $50 -
$65k, none of the interest would be deductible.

That being said, the interest rate may be lower than they
can obtain anywhere else, so doing a re-fi isn't an option
in most cases.

Generally after-college individuals are trying to build up
their lifestyle, and as such need to, shall we say, procure
all of the nicesities that their friends and peers think
they should have. So they need the cash flow. If they
don't for some reason, then paying down the debt faster is
clearly a viable option.

--
Paul A. Thomas, CPA
Athens, Georgia
taxman at negia.net

<< ================================================== ===== > << The foregoing is intended for educational purposes only > << and does NOT constitute legal OR professional advice. > << > << The Charter and the Guidelines for submitting > << messages to this newsgroup are at www.asktax.org. > << Copyright (2005) - All rights reserved. > << ================================================== ===== >

reccoso[at]gmail.com wrote:

- quote -

Pay it down as fast as you can, assuming no other debt.
Otherwise, pay down the highest interest-rate debt first,
as fast as you can. It's better to pay tax on the money
that didn't go to interest, than to pay interest and get
a tax deduction.

Phoebe

<< ================================================== ===== > << The foregoing is intended for educational purposes only > << and does NOT constitute legal OR professional advice. > << > << The Charter and the Guidelines for submitting > << messages to this newsgroup are at www.asktax.org. > << Copyright (2005) - All rights reserved. > << ================================================== ===== >

<< NOT CROSSPOSTED >
What are the best ways people have either heard of or
actually used to deal with student debt in excess of
$100,000.

Asumming the student will be making at least $80,000
at graduation, what's the best way to deal with it?
I'm just interested in any ideas, stories, opinions etc

Is it best to pay it all off asap, or are there certain
advantages (tax benifits) of having the debt (i know
that sounds silly).

Also, helpful would be any Canada-specific strategies
and those for people who will have this kinda of debt
and be starting up their own private business/clinic
about 5 years after graduation.

Thanks a lot...(and please reply to all groups)

<< ================================================== ===== > << The foregoing is intended for educational purposes only > << and does NOT constitute legal OR professional advice. > << > << The Charter and the Guidelines for submitting > << messages to this newsgroup are at www.asktax.org. > << Copyright (2005) - All rights reserved. > << ================================================== ===== >