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Still paying off my student loans...

Dadclass2020Dadclass2020 14 replies5 threads Junior Member
And it's a lot...$20k/year...

However I make over the amount where I can deduct the student loan interest from my 1040 income.

Can I somehow use this to lower my kid's efc?

(I'm guessing probably not)...
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Replies to: Still paying off my student loans...

  • thumper1thumper1 76140 replies3358 threads Senior Member
  • mom2collegekidsmom2collegekids 84228 replies1042 threadsForum Champion Financial Aid, Forum Champion Alabama Forum Champion
    And it's a lot...$20k/year...

    However I make over the amount where I can deduct the student loan interest from my 1040 income.


    Wow....how much do you owe? If you’re making $1600 per month payments, how much longer do you have before they’re paid off?

    Do you have a high paying career? Physician? Attorney?
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  • mom2collegekidsmom2collegekids 84228 replies1042 threadsForum Champion Financial Aid, Forum Champion Alabama Forum Champion
    Can I somehow use this to lower my kid's efc?

    What is your child’s EFC? What is his major and career goal? What state are you in?
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  • mom2collegekidsmom2collegekids 84228 replies1042 threadsForum Champion Financial Aid, Forum Champion Alabama Forum Champion
    I just realized that you’re the dad who was asking if he could lower his child’s EFC by counting his GF or by getting an MBA yourself.
    I have not seen or heard from my ex in 5+ years.

    Theres no way she will provide any financial info to anyone on my request, even if it's to help out child go tp college.

    Will this screw up my FAFSA? I am the custodial parent. We technically have shared legal custody but my ex has been no where to be found for 5 years.


    Also it looks like your child is looking at Princeton?

    If your child has the stats for Princeton or similar schools then he/she has the stats for huge merit elsewhere.

    How much CAN you pay per year towards your child’s college costs?

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