May is not only the best weather in the year, the whole summer ahead and in general – to live well. For many, this is also the time for preparing for the final exams, the last frontier before choosing a road to life. Good for the successors of the glorious dynasties, their path is clear and bright. In terms of guaranteed prestigious education it is also not bad to be born into the family of an oligarch. But what should be done for those who are not so easily endowed with life’s blessings – the school did not give brilliant knowledge, and in the sense of financial independence, parents did not please? Perhaps it is worth considering the issue of bank loans.
Depending on the institution of your choice, bank, your grades, and many other factors, such credit can make up to 25 thousand dollars. You can redeem it within 10 years. In the West, studying on credit is an ordinary thing, legally worked out, and education is treated much more seriously there. Both parents and potential students themselves. We are a little behind in this matter, well, you know that yourself. Speech now about the other: if the bank has recognized you as creditworthy and has given money, try to agree on a trench system of allocation of funds. What does it mean: money is not given at once by the whole amount, and before the beginning of each semester, its payment is made. And interest, respectively, accrues from this moment, that the circle gives a very significant savings. It is unnecessary to remind you that it is necessary to study on conscience – the bank is not at all indifferent as you have finished the semester the previous one. In addition, for the duration of studies, as a rule, the repayment of the principal amount is frozen, but nobody will save you from paying interest.
Another subtlety for students of paid educational institutions: you have the right to social tax deduction. This means that an amount equal to your annual tuition is not subject to income tax. True, there is an upper ceiling, all costs above which will not be compensated. Clarify the current restrictions on this expense item, as well as advise how to return the compensation you owe, will help in your tax. It is only necessary to provide them with a contract with the university and documents confirming payment.
Just in case, we specify: not all the cost of your education will be returned, but only 13% of it, so much is the income tax in our country. Perhaps, this sum will seem to somebody not worth the efforts spent for its return. But, frankly, this information is given for people who can count their money, especially if it’s students. And for the children of the oligarchs, we will also tell you something interesting in one of our next releases.