Student Loan Interest Deduction
If you paid interest on your student loan(s) in 2009, you may be able to deduct up to $2,500 on your taxes. You can take this deduction as an adjustment to income, so it doesn't matter if you itemize on your taxes or not.
Generally, you can claim the student loan interest deduction if:
- You paid interest on a qualified student loan.
- Your filing status is any filing status except married filing separately.
- Your modified adjusted income is less than $70,000 ($145,000 if filing jointly).
- You and your spouse, if filing jointly, cannot be claimed as dependents on another taxpayer's return.
You can find out more about the student loan interest deduction from your personal tax advisor or IRS Publication 970, "Tax Benefits for Education."
Why You Should Join a Professional Organization
Do you want to stand out from others in the workforce? Join a professional organization.
Professional organizations publish journals and/or newsletters, often for members only, that help keep you up-to-date on issues and developments in your field.
Professional organizations often have some means for sharing job listings. This could be a "classified" section in their journal or newsletter, a section on their website, or a separate publication available only to members.
As a member, you'll be eligible to attend the organization's conferences and meetings. Professional conferences offer excellent opportunities to take specialized courses in your field, whether it's at the state or national level.
Professional organizations also provide a great way to network with your peers. Impressing someone with your skills or character can lead to a call about a job opening that otherwise would have passed under the radar.
Professional membership is an excellent addition to your resume! It shows you're involved and dedicated to your field.
How to Correct Errors on Your Credit Report
Have you checked your credit report lately? If you haven't, you should. Your credit report may contain inaccurate or outdated information, like accounts mistakenly attributed to you, credit applications you didn't complete, an old home address, outdated employment information, and old collections activity that is still being reported.
The major credit bureaus—Equifax, Experian, and TransUnion—may have slightly different information about you, so it's best to order your credit report from all three bureaus. You can do this for free at AnnualCreditReport.com.
When you receive your credit reports, examine them thoroughly for errors and omissions. If you find an error, contact the credit reporting agency in writing, and tell them what information you believe is inaccurate. The Federal Consumer Information Center (FCIC) suggests that you enclose a copy of your credit report with the items in question circled.
Within 30 days, the credit bureau will investigate those items by forwarding all relevant information you provide to the lender, creditor, or other business that reported the information. The credit reporting agency is required by law to investigate your complaint and report its findings. If the disputed information is an error, the credit reporting agency must notify all nationwide credit bureaus, so they can correct the information in your file.
Explore any or all of our websites. You'll be glad you did!
Manage your AES account online at aesSuccess.org.
YouCanDealWithIt.com gives you the real story on money, student loans, and life.
EducationPlanner.org is our award-winning career and college planning site.
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