Articles Comments

Debt Relief – Insolvency – Bankruptcy Information » Student Loan Help » Pay off student loan with mortgage money good idea or not?

Pay off student loan with mortgage money good idea or not?

I have a chance to pay my daughters student loan off with money from a refinance we made a couple years ago. Is there any tax benefit to leave it as a student loan or any benefit at all leaving it as a student loan?


  1. Is it a good idea to include a $18,000 student loan in the refinancing of my home? The loan is a 30 year fixed loan and I am taking it out to pay off credit card debt,...

  2. What are some good Student Loan Consolidation Companies? These crooks known as Sallie Mae have screwed me. Two years ago I started receiving my student loans, and the...

  3. Is student loan still tax deductable when refinancing a student loan with a personal loan? My daughter has two very high interest student loans. Her credit won’t let her do anything, but I can “refinance”...

  4. I am considering refinancing my mortgage and have an opportunity to take cash. Should I pay off student loan? First off, my student loan is at 3.65 fixed for an amount of appros 12,000. My refinance rate for my...

  5. Is refinancing your student loans a good idea? I owe $$ on my student loans. I received some information about refinancing which sounds pretty good. Does anyone have...

Written by

Filed under: Student Loan Help · Tags: , , , , ,

4 Responses to "Pay off student loan with mortgage money good idea or not?"

  1. Hello Love says:
    if there’s a tax benefit to leave it as a student loan then i need to know! i owe $25,000+.
  2. felipe says:
    your mortage will have a higer interest than the student loan if you want to finish paying off the house i would use it for that since more inteterst goes to the bank and that would be smarter and then you could help your daughter,
    You could also pay halve and halve
    Invest would be another idea, but not right now
  3. Rosenberg says:
    ask your accountant or tax preparer you can deduct the interest from student loans as well as a mortgage, but it has a low cap. My wife maxes hers out fast with a 50,000 student loan. I am all in favor though of paying off any loan as fast as possible.
  4. l_e_i_2004 says:
    Your daughter can deduct up to $2500 from her income on page 1 of her tax return. You also can deduct the mortgage interest on your house if you itemize. You both get a tax benefit by paying the interest. I look at it as free money. I would pay her loan down enough to maximize the tax benefits (she can get an amortization from the direct loan website.) Perhaps pay off her car instead? You don’t get any tax benefits from holding onto a car note.

Leave a Reply

Connect with Facebook


You may use these HTML tags and attributes: <a href="" title=""> <abbr title=""> <acronym title=""> <b> <blockquote cite=""> <cite> <code> <del datetime=""> <em> <i> <q cite=""> <strike> <strong>

Not finding what you're looking for?
Do a custom search of our entire site:

Get Adobe Flash player