Are you paying education loan; here’s how you can avail tax benefit

Are you paying education loan; here’s how you can avail tax benefit

Among many categories of debt, education loan is one of them which helps students to accomplish their studies either in India or in foreign country. With this financial support, provided at low-interest rates, youngsters have been facilitated by the government to pursue their dreams. Here are key benefits of education loan, as per PolicyBazaar. Anyone can opt for Education loan to study in India for graduate, post-graduate, professional and/or doctoral courses/degrees.  Loan cannot be assigned to the student alone, the parent or guardian needs to be co-signor for the loan….

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Reforming student loans and tax credits

Reforming student loans and tax credits

Student debt has reached the top of the national agenda, thanks in part to the significant expansion in the stock of outstanding student loans over the past decade. There is now $1.3 trillion in federal student-loan debt outstanding, up from $441 billion just a decade ago. The increase is a function of rising college costs, increases in student enrollments, and the expansion of federal loan programs. Over that period, total enrollments in post-secondary education grew from 17.5 to 20.3 million students. The federal role in higher-education lending has expanded significantly…

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State, some parents ask court to stop lawsuit challenging Tax Credit Scholarship program

State, some parents ask court to stop lawsuit challenging Tax Credit Scholarship program

TALLAHASSEE — Attorneys for the state and a group of parents asked the Florida Supreme Court this week to reject a lawsuit challenging a program that helps pay for tens of thousands of children to attend private schools. The filings came amid ratcheted-up debate about the Florida Tax Credit Scholarship Program. On Tuesday, House Speaker Richard Corcoran, R-Land O’ Lakes, described the lawsuit, spearheaded by the Florida Education Association teachers union, as “evil.” The union and other plaintiffs went to the Supreme Court after a Leon County circuit judge and…

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Did you know: Interest on education loans is tax deductible

Did you know: Interest on education loans is tax deductible

Getting educated in a premier institute is a costly affair. Course fees and other expenses can be in lakhs of rupees, and many parents or individuals may not have such amounts of money. For instance: it would cost about Rs20 lakh to complete a postgraduate programme from the Indian Institute of Management, Ahmedabad, one of the country’s best management schools. Those who don’t have ready cash to finance higher education, can opt for education loans. The advantage of these loans is that they can be repaid after the borrower, or…

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