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We already don't have subsidized loans.
Perkins, LDS, and HPSL are subsidized loans available to dental students.
Perkins is for undergrads only. Hpsl and lds are the only ones that is available for people that is subsidized though and you have to fit a certain criteria to get them. You have to be poor/disadvantaged.
Undergraduate students may receive up to $5,500 in Perkins funds per year with an aggregate maximum of $27,500, while graduate students are potentially eligible for up to $8,000 per year with a maximum, including undergraduate amounts, of $60,000.
Interesting to note that Trump's proposed income tax reductions would hugely benefit working dentists.All of us are going to get slaughtered by federal income taxes over the course of our careers, proportionally bearing the burden in comparison to those who earn far less and those who earn far more and shelter/loophole all their money.
They are directed Unsubsidized loans. They removed subsidized loans for graduate students in 2012.
Federal Perkins Loan (no longer available) | Financial Aid
Is this sarcasm? Where are you getting better than 6%?What I do is take subsidized student loans even if I don't need them and park them into a CD to earn interest.
Well, if they are subsidized, as I understand it you don't collect interest until you graduate. So in theory this is a good idea if the CD is liquid enough to the point that you could withdraw the funds the second you graduated, to be able to pay back into the loan so that interest doesn't accumulate. But the better question is what subsidized student loans are you getting and how?Is this sarcasm? Where are you getting better than 6%?
I think you meant what subsidized* student loans are they getting and how. But yeah, I missed that in the first thing I replied to. I agree with you though.We'll, if they are subsidized, as I understand it you don't collect interest until you graduate. So in theory this is a good idea if they are liquid enough to the point that you could withdraw the funds the second you graduated, to be able to pay back into the loan so that interest doesn't accumulate. But the better question is what unsubsidized student loans are you getting and how?
Oops yeah, I'll make that correction in my previous post.I think you meant what subsidized* student loans are they getting and how. But yeah, I missed that in the first thing I replied to. I agree with you though.
I really admire your attitude, just like minepersonally, I plan on just paying my student debt. I borrowed it, I pay it back. I feel like too many people are relying on the forgiveness plans.
This is where being a responsible borrower comes into play imo. I understand things happen, but at the end of the day, banks don't forgive your mortgage after 15/30years.
Taxes: I believe you can make your loan payments a tax deductible/ or you can pay them, and then your income is taxed. ^this might be incorrect now days
I really admire your attitude, just like mine
Working dentists in addition to everyone elseInteresting to note that Trump's proposed income tax reductions would hugely benefit working dentists.
Interesting to note that Trump's proposed income tax reductions would hugely benefit working dentists.
Taxes: I believe you can make your loan payments a tax deductible/ or you can pay them, and then your income is taxed. ^this might be incorrect now days
Yup, the idea behind it is simplification and tax reduction. Trump's a business guy, so he knows that there is negotiations to be made. He made it as simple as possible, knowing that if he proposed 3 brackets, there would be negotiations by congress to bring it up to the level he probably wants it (i.e. less than the 7 we currently have). 'Tis the art of the deal, it's a game of chess. We have to stay tuned, because of course changes are going to be made. His intentions are for everyone to pay less, not more.Unless I'm mistaken, I think the only solid information currently available from the White House is that they want three brackets of 10%, 25%, and 35% (per April 26th). So for example, single earners in the $91,900 to $191,650 range see a maximum tax rate of 28% right now, and single earners in the $191,650 to $416,700 range see a maximum tax rate of 33% right now. Depending on the new cutoffs for incomes, some of the 28% income people and many of the 33% income people could get bumped into the 35% category. It looks like the largest earning dentists who make more than $416,700 will see the biggest tax cut, but some average dentists could potentially see a tax increase. It looks like that would hold for married filers as well. Dental offices shouldn't be affected by the new, lower corporate tax rate since they aren't C-corps.
I think the Tax Policy Center projected that the overall plan would increase the deficit, so it will probably see some changes in Congress due to both sides of the aisle being unhappy with parts of it. So any analysis at this point might be pointless in the end.
Read the White House memo on President Trump's proposed tax plan
Tax Brackets in 2017 - Tax Foundation
im not an accountant or anything, but that does make sense. I also looked into it a littler more. Interest can be tax deductible to a certain extent, and that "refund"/deduction can easily be used to make an extra payment on the loans if you so wish to do so. However that does seem income dependent to a certain extent.Unfortunately you will make too much money to deduct the loan payments from your taxes and there is no way to pay them with pre-tax money.
im not an accountant or anything, but that does make sense. I also looked into it a littler more. Interest can be tax deductible to a certain extent, and that "refund"/deduction can easily be used to make an extra payment on the loans if you so wish to do so. However that does seem income dependent to a certain extent.