Joining Army for LRP benefits, good or bad?

March 22nd, 2012

Greetings! Well, here is a subsidized student loan question that will help answer a common query. Good luck!

I graduate with a bachelor’s in May and I was looking at joining the army to have my federal student loans paid off. If I was to take this route, what would be my best option? I know that my loans could be paid off as a reservist, so would that be a better option than active duty? Also, is there anything I should know about LRP that the army doesn’t tell you before you sign on the dotted line?

Also, I’ve always considered the military to be a respectable calling, and I feel that I would serve my country well if I chose to join. I say this to avoid any responses telling me ‘no’ because my reasons for joining are ‘wrong’.

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When do I have to start paying back my student loans if I left college?

February 14th, 2012

Greetings! Well, here is a subsidized student loan question that will help answer a common query. Good luck!

I want to quit school and join the military. It’s my junior year, when do I have to start making payments for my loans? I also want to go back after I finish my career in the military. Thanks.

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Are you a young adult in debt?

January 26th, 2012

Hello! Today when I was surfing the web, I ran across this subsidized student loan question. Check it out!

I’m 19 and $4,000 in debt from hospital bills
:/

I often wondered about the same subsidized student loan question. If you know more about this question, please share your knowledge.

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Is Withdrawing the same as Dropping out?

January 25th, 2012

Howdy! Here is a great subsidized student loan question for your perusal.

I just found out I can’t afford tuition this semester, so I might be moving home for a semester, or longer, to work, and take some time off. I don’t want to drop out, because I plan on coming back to finish my degree, maybe even take my current courses in the spring. The deadline to drop/switch classes was 2 days ago (convenient timing, eh?) so I’d have to withdrawal. If I just withdraw from all of my classes, but continue to pay student union fees, can I still be considered a student, even without taking courses?

If it helps, I’m a student at the University of Alberta…

I often wondered about the same subsidized student loan question. If you know more about this question, please share your knowledge.

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I feel slight resentment towards my deployed husband. What would you do?

January 24th, 2012

Hello! We have found another subsidized student loan question for you to ponder.

My husband is deployed to a non war zone. I miss him and know he misses the kids and me, but I’m kind of resentful. Part of it comes from the fact that I am currently not working. Grant it I have worked for the last 13 years of my life and have always managed my own finances…. Now I’m on a tight budget with money I have little control over. I hate it!! Yes my husband works hard, and we are now living off one income which is noticeable more difficult. My needs are meet, I just wish I had more control or involvement with the budget.

Also, I am interested in joining the Navy to participate in a college loan repayment program. Taking 6500 off my student loans is very attractive to me. Particularly since we are thinking about buying a house in the future. My husband doesn’t support this idea and I really don’t understand why. He says I’m not used to being bossed around and whatnot.. But getting rid of that debt would make just about anything worth it to me. What do you think? Is joining the Navy a bad idea? FYI my husband is a Marine.

I just feel like he has all the freedom, fun, control (he is currently in financial power) and I’m stuck.. Bored, loney, isolated, broke, and depressed at home.
- the loan repayment amount is $65,000
- I appreciate the feedback I’ve received so far. I do have a bachelors degree and am a few courses away from a masters. I am ready to go back to work, but am waiting for my youngest to turn 1 and for my husband to return.

- I hope I continue to hear feedback opinions and thoughts from women and men military members and their family
I have two children

Didn’t you enjoy that? I did. I think I may add my own answer to that subsidized student loan question. How about you?

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Can I carry over charity contributions/interest deductions to next year’s tax return?

January 23rd, 2012

Greetings! Here is a subsidized student loan question I found when I was looking at Yahoo.

I know I shouldn’t really be asking tax advice on yahoo answers, but I will give it a shot.

I am a current Undergraduate student, and have made about $5,000 in income this year, and I am also married (with a tax credit of about $11,700 because of that). Thus I will be filing independent of my parents because of my marriage. I will have no tax liability.

However I have made about $500+ in charitable contributions in 2011, can I carry this over for next year’s tax return (ie. 2012)? I will be making over $30,000 next year and want to be able to claim the charitable contributions on that because that will actually help reduce my tax. Is this possible?

Also I made student loan payments, and have paid back $1,700 in interest to the government on my loan, and so I received a 1098-E which I can use to deduct my taxes. Again this is no benefit to me this year, can I claim this next year?

Please let me know, thanks!

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My husband has a student loan in default. Should I file my tax return separately to get my refund?

January 22nd, 2012

Howdy! Here is a great subsidized student loan question for your perusal.

My husband has been unable to pay on his student loans and for the past couple of years and his tax refund has been taken to offset his debt. We just legally married in October so this is our first time that we could file together. I’ve been told if we file together we could get a bigger refund which would help us get through his recent layoff from work. My concern is that they would take my portion of the refund if we file jointly. Does any one know if this is the case? Should I file separate to get my refund. How does this work?
Please only answer if you know what your talking about.

I can’t find any thing on Dave’s site that says anything about this. Please include a link if your citing another source. Thanks.
BY THE WAY…We planning on paying his debt. We just don’t have the money at this time. Rent, food and utilities come first. The only money we spent this year that you could consider non-essential was a marriage license and the marriage at the courthouse. No reception, no honeymoon. Its hurtful to imply we are dead beats when you don’t know who we are or how hard we are working to get back on our feet.

Very interesting. Sometimes questions can be helpful, and sometimes they create even more questions. This one created more.

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Provide advice on steps that this family should take considering their present conditions.?

January 21st, 2012

Greetings! Here is a subsidized student loan question I found when I was looking at Yahoo.

Consider saving, investing, debt, or financial decision-making information when providing advice.
Jennifer Barry is 25 and is just a few years out of college. She is $23,000 in debt. Of this amount, $16,000 is owed on student loans and $7,300 is owed on 2 high-interest credit cards. She has no idea what to do in terms of retirement or savings, especially with debt that she has to pay back. She worries because she doesn’t have much to fall back on if her car breaks down or if she has some other emergency. After repaying her debts, she wants to purchase a home and a new car within 10 years. She also has a negative net worth. (At this stage of her life, her debts-$23,300-exceed her assets-$5,600-for a net worth of minus $17,700.) Her assets consist of $800 in a checking account and a $4,800 car. She shares an apartment with a friend and pays $350 per month for rent, plus $320 toward her debts. She earns $28,900 annually($2,408 per month). Last year, she received a $685 tax refund and spent it on clothing and home furnishings.
SHE NEEDS ADVICE.

That was just the subsidized student loan question I was looking for. Great answers, too. With any luck, it was the one you were searching for, as well.

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Loans and bad credit will it effect my pay check? USA?

January 20th, 2012

Greetings! Well, here is a subsidized student loan question that will help answer a common query. Good luck!

I took out a student loan with sallie mae and I was paying it off until I had to go out of the country for a family emergency and was unable to pay off the loan (because no income) and also I have a overdue bill with sprint, and a government school loan.

My question is can any of those 3 be taken out of my paycheck if I go back to work? Or out of my bank account? What will happen? Any help or advice would be appreiciated. Thanks

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Am I a dependent if we file jointly?

January 19th, 2012

Hello! Here is an interesting subsidized student loan question with some good answers.

Ok me and my husband are filing a joint return… I made probably 4k at the most last year but he made far more! We have 3 kids… So when filing and it ask for dependents am I included? Do we have 4… Or 3 “just the kids”? Also he made almost 16k together almost 20 and he claimed 3 through his work… Any guess on how much we will get back? Thanks in advance!

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