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Is there a form you can submit to the government so your taxes are not taken for student loans?
Wiki User
∙ 16y ago
No. When a federally funded student loan is in default the IRS has the legal power to seize the person's refunds until the loan is satisfied or a court order or decision from the federal tax court invalidates the action. http://www.irs.ustreas.gov
If it's YOUR loan and YOUR taxes, no. But if you're asking from a spouse's POV, then yes ... you would file for Injured Spouse with the IRS and at least a portion would be refunded to you. That being said, though, it would increase your spouse's liability.
Wiki User
∙ 16y ago
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Your father died and you have student loans outstanding Can you be relieved of this debt?
Let me start by sending my condolences for the loss of your father. If the student loans were taken out by your father as PLUS loans, then the loans will be forgiven by the government. If you took out the student loans under your SS#, then you still have to pay on the loans, even if your father cosigned on them.
Can student loans taken overseas?
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Can taxes be taken for student loans?
Federally guaranteed or insured loans, yes.
Can your federal refund be taken for student loans?
For delinquent gov't insured or guaranteed loans.
What are some reasons that your federal tax return be taken?
If you're asking about your tax refund, the federal government will seize it for back taxes owed, student loans or any other government loans, child support, or any debts that you owe to the government.
Can student loans be taken out of your federal taxes?
Yes, if your at a public school but not at private schools
Is a husband responsible to pay for a deceased wife's student loans?
A wife pays for her student loans. First the student has to pay for his own loans. Husband doesn't have to at all. Take legal advice. The repayment of the debt could be taken from her estate before any bequests.
Can e2save help play off student loans?
The company of e2save can infact help any student pay off the loans that they have taken out for their college tuition and such, but their interest rates are high.
Understanding Government Student Loan Programs?
An increasing number of college students are relying to government student loans to help pay for their higher education. According to the U.S. government, nearly 85% of all students attending a four-year college have participated in the various student loan programs. There are three basic types of student loans available from the U.S. government. Since 2010, student and parent loan packages are made through the Direct Loan program. That program funnels money from the U.S. government directly to schools, which then administer the funds. Previously, the funds for these loans were often provided by private banks, which charged higher interest rates and account fees. Stafford or Perkins loans are ones made to the student. Paying back these loans are the responsibility of the student. The challenge is that these loans cannot be dismissed during a future bankruptcy or legal action. These loans will remain on the student's credit record until they are paid in full. These loans are either subsidized (interest isn't charged while the student is in school) or unsubsidized (loan interest is charged, but payment can be delayed until graduation). The amount of the loans is based on the student's household income. A second type of loan is called a "Plus Loan." These are typically guaranteed by parents and the ultimate responsibility for payment rests with the parents. These loans can be taken out for an unlimited amount that covers any educational costs not covered by scholarships or other means. Since 2006, these loans have had a government-capped rate of 7.6%. Repayment begins 60 days after the money is paid and the loans need to be repaid within ten years. The third type of loan is the private student loan, which is administered by traditional banks and other financial institutions. The amount of the loans vary, depending on the household income. Qualifying for the loans can depend heavily on the credit scores of the student's parents. Interest rates and account fees for these loans are determined by the federal government. Information on all of these loan options can be found by visiting the school the student is planning on attending. School guidance counselors are well-versed in these loans and can offer suggestions on the best options for each family.
Should I apply for student loans?
If you have the money to pay for school do it. Taking out loans is a good option if you are in need of money, but anything that is taken out does have to be played back.
Can they send you jail for a federal student loan on defaul?
Only if you gave fraudulent info to get it, keep it, or obstruct collection of it. Keep in mind that most student loans are federal government-backed financial aid, so there are enhanced penalties for those that abuse them. Borrowers guilty of no crime can have their tax refunds and wages taken, without a court order, for defaulting on their federal student loans in the US.
Which types of student loans can be consolidated?
Any federal student loans taken out during your college career can be consolodated six months after you graduate or stop attending classes. Consolodation can help you pay off your loans quickly. Visit studentaid.ed.gov for more information.
