Need a Tax Loan? How Your Student Loans Could Be Affecting Your Taxes

You have student loans to pay off, but you have other expenses too. You have a job you enjoy, but you’re not making enough money to be financially free. Some weeks you struggle. With a tax loan you could get some of that burden off your shoulders, especially when your student loans affect the taxes you pay. It’s a complicated web at times, but if you understand how they affect each other, you can make the most of borrowing through a tax loan while also minimizing your student loans.

You Can Deduct Student Loan Interest and Benefit from a Tax Loan

When you file your taxes this coming year, make sure you know that you can deduct the interest from student loans from your overall income. This will lower your tax burden and save you money. You can also take advantage of the bigger refund you’ll be getting by borrowing through a tax loan. With this simple loan you can get your refund cash sooner and start paying down some of that expensive student loan interest.

Your Tax Refund Could Be Seized to Pay Student Loans, but a Tax Loan Could Help

Filing taxes is a drag for everyone, but we all love that moment when the refund total pops up. You get to the end of the forms and see you’re getting a couple thousand dollars back. What a relief to get some extra money, right? Well you could be saying goodbye to that refund if your student loans are in default. It’s important to do whatever you can to stay current with student loan payments, but it isn’t always easy. If you find out your refund is being seized, you can use a tax loan to make up the difference. Get the cash anyway and use it to make some smart financial choices about paying down debt.

How a Tax Loan Works

A tax loan is a pretty simple personal loan. To get approved you just need to complete a short application, which you can do online or with a mobile app. You don’t need to prove you have a refund coming, so that seizure won’t affect your approval. Once you do get approved you can expect to have the money transferred to your bank account in about 24 hours or less. It’s an easy and quick way to get extra cash, not just at tax time, but any time of year and it can really help you out of a bind, especially when student loans are weighing you down.

Need a Tax Loan? How Your Student Loans Could Be Affecting Your TaxesBy Heather Wilson - 10/4/16