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No, a student loan is NOT reportable income. Besides, it wouldn't make sense that immediate debt be considered income.
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∙ 15y ago
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Can you get a loan if you are a co signer for a student loan?
If you have a good enough income to qualify since the student loan is considered your loan.
If you are making you monthly payments on your student loan can you still get your income tax at the end of the year?
If you are not delinquent with your student loan, your federal income tax refund will not be garnished.
Does Sallie Mae base a student loan on income to debt credit and how much do people usually get on a student loan from them?
i actually worked for sallie Mae as a student loan consultant. It depends on the type of loan that you are looking for. they all vary from loan to loan.
Is interest income reportable?
Earned interest is reported as income.
Do you have to pay taxes on your non-federal student loan?
No, it is a debt not income.
Can someone with a bankruptcy but above-average income and a low debt-to-income ratio co-sign a student loan?
No. If someone has a bankruptcy in their last 10 years with an above average income and a low debt-to-income ratio can't co-sign a student loan.
Can child support garnish your student loan in Pennsylvania?
No. Child support is based upon the non custodial parent's income. A student loan is considered a debt.
Does home foreclosure effect ability to get student loan?
In the US, no your eligibility for student loans is not dependant on credit or income.
Get a student loan without a co-signer or steady income?
Yes, there are a number of student loan options for those who can't get anyone to cosign and those who have bad credit. One option is a federal loan.
How does one apply for student loan refinance?
It is not possible to apply for a student loan refinance as for federal loans, which is usually what a student applies for, there are only two methods to pay off the loan, one pays as they earn the amount, or you pay through your income.
Does a student loan refund have to be claimed as income on taxes?
Loans are never taxable...I'm not sure what you mean by a loan refund though!
Does unemployment have to be filed?
Unemployment compensation is income tax reportable.
