I am finishing up school, and will have lots of student loans to pay-off. I look at how much the government will take from me, and how long it will take me to pay off my loans because of taxes, and I want to scream. I think what gets me most is that the government is making money off of my education through interest on my loans, are profiting from my ability to earn more through taxes, and are guaranteeing an increased return on their investment because they will earn more interest because it will take me longer to pay-off my loans because of taxes.
I feel your pain. There isn’t anything like supporting others lifetyles that you can’t afford for yourself.
I have $120,000.00 in student loans. I paid that money to obtain my BA and JD, which are required in my profession.
Guess what? It’s not tax deductible.
A plumber buys a van and tools to do his job? Deductible.
A professional buys a degree required to get a license? not deductible.
I’ve been encouraging my kids to live at home until school debt is paid off and they have some savings. I know so many people are so eager to see young people get out on their own, but really, if you have a full time job and some social interests and your own wheels, all you need is a place to sleep, eat, shower, and do the laundry.
I lived at home until I got married. With a full time job and being busy, I really didn’t spend that much time at home myself. I was able to save quite a bit of money, too, and still be able to travel some.