I am considering getting student loans
I am considering getting student loans for the next 3 years. I am currently getting FAFSA, but that barely covers tuition. Will a loan affect how much I can get from FAFSA? I have also been told that I have to claim the loans on my tax returns. Is this true, and if so, do I actually have to pay taxes on the loans? I was assuming that, since you have to pay the loan back, it wouldn't count as income. How do student loans affect tax returns?
|