Archive for the ‘Student Loan’ Category
What happens when a student loan is cancelled due permanent disability, but the student is rehabilitated?
When a guaranteed student loan is discharged and later cancelled due to what is considered a total and permanent disability but many years after the cancellation of the loan the individual is rehabilitated and able to return to the workforce with the necessary aid and support for their disability what happens to the student loan? I’ve been told that once a loan is cancelled it no longer exists, and I’ve been told that if the individual is able to return to the workforce the loan is reinstated. Which, if either, is correct? What is the answer? (I’m talking about in Oklahoma.)
I can find plenty of links, just no answer. Please don’t leave a link, if you don’t know then you just don’t know.
Is student loan still tax deductable when refinancing a student loan with a personal loan?
My daughter has two very high interest student loans. Her credit won’t let her do anything, but I can “refinance” it with me getting the loan using my credit. But is it still a “student” loan that she can deduct. She is making the payments and her name will be also on the loan (ironically, she will co-sign for me). This seems to be some gray area once the loan gets moved around. Just want to make sure the “chain of custody” still makes the new loan interest tax deductable. Hope this made sense and thanks for your help.



