Student Loans: Use Your Cash Or Take The Loan?

At Your Smart Money Moves, we get questions that we get from clients, through the website, or others that I see on the internet.   Here is a great one I recently came across around student loans. Q: I have about $40,000 saved up with an additional $6,000 in liquid assets that I am using as my emergency fund.  I’m attending graduate school, which will cost me about $50,000 by the time it’s over.  I will be working full time for the years of graduate school, so I believe that I will be able to save the extra $10,000 by the time I need to pay for it.    Should I pay the tuition out of pocket, or take out a low interest student loan at 5%?   I may be wanting to put a down payment on a house in the next five years, but I don’t want to begin accruing interest on student loans that I don’t necessarily have to incur. ...

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The Top 10 Most Overlooked Tax Deductions

Top 10 Most Overlooked Tax Deductions Ted Jenkin, CFP®, AAMS®, AWMA®, CRPC®, CMFC®, CRPS® Co-CEO and Founder oXYGen Financial, Inc. Request a FREE consultation: www.oxygenfinancial.net Get the most out of your Tax Return for 2010 – Here is the list of the MOST Commonly Overlooked Tax Deductions: Miscellaneous Deductions On Your Itemized Deduction Form (investment and tax expenses, unreimbursed employee expenses, etc.) Business Owner Deductions (especially if you file a schedule C or have a single member LLC) State Sales Taxes (especially for individuals that live in states with no income tax) Non-Cash Charitable Contributions (do you really know what that bag of stuff is worth?) Teacher Expenses (I’ve hardly ever met a teacher who didn’t buy some supplies out of pocket) Points (on new mortgages and on refinancing) Mileage (charitable, medical, business, and moving) Private Loans (if you have documented and if they haven’t paid back) Student Loan Interest (often missed after someone graduates college) Including Reinvested Dividends To ...

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