Regardless which major they choose, the school attended or the degree obtained, college graduates typically have some amount of student loans they must pay back. According to a 2016 story in U.S. News and World Report, 70 percent of students graduated with student loans and the average graduate held $37,172 in student debt.
College debt can range from several, to hundreds of thousands of dollars, so students and parents can always use some guidance in the best ways to manage the loans and save money. This presents a great opportunity for tax professionals to provide advice to their clients. You can share available tax breaks, ways to reduce their loan payments and how to earn extra income to pay down the debt.
Student Loan Interest Ded…
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