Word: loans
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Dates: during 1990-1999
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However, recent changes in federal policy on student loan interest more than halved the Massachusetts program's cost and made a change in state policy easier to sell...
...when the change takes effect, a student leaving college with $30,000 in loans at 8 percent interest--the rate for Harvard's student loan program--would owe $2,400 in interest the first year and would save $142 on state income taxes. The interest and savings would both decrease as the principal is paid...
Generally, students don't have to pay interest on their loans while they're in school because most loan programs defer payments until after graduation...
...defer income where possible and accelerate deductions. That might mean taking a bonus in January rather than December, if you have a choice, or paying your last estimated quarterly state income tax in December instead of January. Other ways to pull deductions forward: prepay health-insurance premiums, student-loan and mortgage interest and some college tuition...
...look forward to refocusing my energies on law and government, and to repaying the generous loan of time granted me by my family and friends for so long," she said...