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April 28, 2011

ABA concerned about student debt and the value proposition of law school

Yesterday, ABA President  Zack responded to a letter from U.S. Senator Barbara Boxer urging law schools to disclose more information about the costs and benefits of a legal education.  Mark Hansen of ABA Journal reports that President Zack said nobody is more concerned about the future of the legal profession and the value of a legal education than the ABA.   "No one could be more focused on the future of our next generation of lawyers than the ABA and the legal profession for whom we speak," Zack wrote in a response to Senator Boxer.…

By Heather  |  Category:  Student Debt, Student Loan Repayment  

April 15, 2011

Department of Education Prepares to Verify Qualifying Public Service Employment!

Happy Day!  The Department of Education today published in the Federal Register an Employment Certification for Public Service Loan Forgiveness form. And the Department of Education will verify that employers qualify as public service organizations!  Fantastic!  We’ve been trying to get his to happen since the day the College Cost Reduction and Access Act passed, more than 4 years ago. There’s more!  The Department of Education will review the forms that are submitted, will verify qualifying employment AND…

By Heather  |  Category:  Public Service Loan Forgiveness  

April 6, 2011

Paying interest on a student loan and still haven’t filed your tax return?

You can reduce your taxable income by the amount of student loan interest you paid in 2010, up to $2,500. That’s true even if you don’t itemize deductions.  Unfortunately, married folks have to file joint tax returns to take the student loan interest deduction, and some married people will want to file separately in order to separate their incomes for figuring Income-Based Repayment. Figure your deduction using the Student Loan Interest Deduction Worksheet.  Your lender (a bank or the government) should have sent you a Form…

By Heather  |  Category:  Student Loan Repayment