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Answered 2007-02-11 00:39:06

No, it is a debt not income.

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Do you have to pay taxes on a 401k if you take the money and pay a student loan?

hi


Can student loan garnish your pay and your taxes at the same time?

Yes, of course.


What is student loan forgiveness?

Student Loan Forgiveness is when a student can't pay a loan that he owes and so the government has money to pay for that loan if he/she is unable to make the payments on it.


Do you pay taxes on financial aid?

No, you do not pay income taxes on student loans because they are debt. You do however need to look into Grants as the laws are different for free money. You do not pay taxes on a LOAN, because it has to be paid back, so it is not income.


Who should get a debt consolidation loan?

Federal Student Loan Consolidation Program means combine all loan into a single pay. :Loan consolidation is the best for the student who not able to pay your fees. If any student want to continue their study and they want to take admission in top college for higher education but good college take high fee. But some time all student unable to pay your college fee then they take student loan. But after completion of education they are facing problem with pay your student loan then they require loan forgiveness or consolidation. Federal student loan consolidation is the best option to pay your all loan into single pay


Can you get a student loan if you are under eighteen?

no because you have to be 18 and up to get a student loan and you only get a student loan when your in collage so when you get in collage ask about the student loan you also have to pay for the collage and they pay you as you go in and through out the year so i hope this help you


Where can you get a loan to pay off your overseas student loan?

Why do you need a loan to pay a loan? Ask any financial institution


Student loan after bankruptcy?

You pay it.


What is it called when you fail to pay back a student loan?

Failing to pay back a loan is called defaulting on the loan.


What can you use your student loan for?

pay for collage


Can you get a student loan forgiven if you can't pay?

no


Do you have to pay taxes on a student grant?

No, they are not taxed.


What to do if reached student loan limit and still have to pay for college?

If a student reaches their aggregate loan limit, they must pay down their loan first in order to be eligible for additional financial aid. Otherwise, the student will need to pay the remaining cost of school with cash out of pocket or take out a private loan.


Do you have to pay taxes on a forgiveness loan?

boom shakalaka


What student loan does not have to be paid back?

If it's a loan, then you have to pay it back. The kind you don't pay back would more accurately be called a 'student grant'.


How can I have my student loan forgiven?

One can have a student loan forgiven if one has no money at all to pay or if one joins a program called student loan which basically pays every penny of ones loan.


Who pays student loan?

Students must pay the loan. As for how, the best way to start off is to get a job or any form of service that will help you pay it off. It's best to know what you can and can't pay so that you will be ready to pay off the student loan.


Can you pay on student loan while still in school?

no


Do you have to pay taxes on your federal student loan?

No, fed student loans are not income. Unless I'm forgetting something, you get to deduct the interest paid on the loan as you're paying it off. They should send out a 1098 to report that when applicable. That's the only tax implication...


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.


What is the difference between exemption and withholding allowance?

An exemption basically is something you use to lower your taxes, or something you do not have to pay taxes on, such as a child or student loan interest. A withholding allowance is how much the employer withholds from your check in taxes after exemptions are calculated.


How long does it take to pay back student loans?

Loan Calculators You can use this student loan payoff calculator to estimate how long it will take to pay off your student loans. Use this tool to determine how quickly you'll pay off your student loans. By making a higher monthly payment, you can shorten the length of your loan.


If a student loan is paid in full by the student does the cosigner have to pay the like amount also?

Cosigning means you will pay any amounts the borrower does not pay, so if your son has paid the loan off, it is done.


Do you have to pay back my student loan if a forget to defer it and now in arrears?

dude...I'M not paying back YOUR student loan...cheapskate.


Where is the best student loan calculator?

http://www.finaid.org/calculators/loanpayments.phtml and https://bigfuture.collegeboard.org/pay-for-college/loans/student-loan-calculator have been sited as being the best student loan calculators.


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