Tip & How-To about Computers & Internet

Education discounts

Paying for an education is increasingly more difficult and with Government low interest loans drying up students and families need to find alternatives to help pay for a good education.
One of the easiest ways is to cut costs and one partticulary costly item (computers and related software) can be purchased at drastic discounts through online stores selling software and hardware at significant discounts. I recently purchased Visual Foxpro, which normally sells for well over $300, for $65.
You will need to provide satisfactory evidence that the purchase is for a student or faculty member (a copy of an ID card or course schedule is usually adequate).
I've found academicsuperstore.com to be the best to deal with.

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My son has a student loan but I pay the loan can I claim the interest


Topic 456 - Student Loan Interest Deduction
You may be able to deduct interest you pay on a qualified student loan. Generally, the amount you may deduct is the lesser of $2,500 or the amount of interest you actually paid. It is subject to a phaseout, which means the amount of the deduction gradually decreases and phases out completely if and when your modified adjusted gross income (MAGI) amount reaches the annual limit.
You claim this deduction as an adjustment to income, so you do not need to itemize your deductions on Form 1040, Schedule A (PDF), Itemized Deductions.
You can claim the deduction if all of the following apply:
  • You paid interest on a qualified student loan in tax year 2015
  • You are legally obligated to pay interest on a qualified student loan
  • Your filing status is not married filing separately
  • Your MAGI is less than a specified amount which is set annually, and
  • You or your spouse, if filing jointly, cannot be claimed as dependents on someone else's return
A qualified student loan is a loan you took out solely to pay qualified higher education expenses. See Publication 970, Tax Benefits for Education, and the Form 1040 Instructions (PDF) to determine if your expenses qualify.
If you file a Form 2555 (PDF), Foreign Earned Income, Form 2555-EZ (PDF), Foreign Earned Income Exclusion, or Form 4563 (PDF), Exclusion of Income for Bona Fide Residents of American Samoa, or if you exclude income from sources inside Puerto Rico, refer to Worksheet 4-1, Student Loan Interest Deduction Worksheet in Publication 970, instead of the worksheet in the Form 1040 Instructions.
If you paid $600 or more of interest on a qualified student loan during the year, you will receive a Form 1098-E (PDF), Student Loan Interest Statement, from the entity to which you paid the student loan interest.
For more information about the student loan interest deduction and how your MAGI affects the deduction amount, refer to Publication 970.
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Page Last Reviewed or Updated: December 30, 2015

Jan 26, 2016 | The Computers & Internet

17 Answers

How many different types of student loans are there?


It depends on the county, but in the US, there are two main types. There are federal student loans and private student loans. Private student loans are usually from the educational institution itself or from nonprofit/philanthropy.

Aug 14, 2013 | Finance

3 Answers

My student loan is in forebearance, and I supose to start paying by the 15 of April, 2011. But I am not in the position to meet up to that date. Rightnow, I am working a minimum wage that I cannot even take care of my family of five. So I am appealing for an extension of the date.


You may win at the appeal, but it's not super likely. You would be better off taking out a second loan from a different institution to pay off your first (essentially refinance the loan). You'll end up owing more this way, but it'll save your credit.

Apr 09, 2011 | acs-education.com

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