I repaid rs 34000/- towards my educational loan so far this year. How can I calculate the interest paid towards the loan as that is the amount which can be used for tax rebate? when I asked the bank for tax certificate, they simply add up the interest charged to the account in the year which I think is wrong as the rebate is for the interest paid and not the interest charged.Please help.
Posts Tagged ‘Educational’
How Is The Interest Paid On Educational Loan Calculated From The Repayment?
January 25th, 2010What Is The Best Way To Handle An Unconsolidated Private Educational Loan With Outrageous Variable Interest?
October 3rd, 2009My friend and I are destitute and have nothing but a life of debt peonage ahead of us. I have a worthless Master’s degree from an uppity pretentious school. My consolidated federal loan will be over $300/month for 30 years at 5.3% fixed. The pigs who so “generously” gave me the private loan without which going to University of CHicago would have been impossible have risen the interest rate to over 8% and it goes up from here every 3 months with no way to lock it in. The feds will not let us consolidate private loans into our consolidated fed loans. I just got a 6 month deferment on the private loan but, considering the interest, should I be saving money rather than throwing it at this outrageous loan like I’m trying to put out a fire?
