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Re: Future Student Loan Refund as collateral?


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Posted by Grace (172.129.205.82) on June 25, 2003 at 18:13:20:

In Reply to: Re: Future Student Loan Refund as collateral? posted by Grace on June 25, 2003 at 17:42:57:

Actually, here's more detail I found on a search:

Updates from Congress House of Representatives

The Labor HHS Appropriations Subcommittee plans to mark up (write) the 2004-05 FY legislation on Thursday. This will include funding for all programs, special projects submitted by members of Congress typically are not included until later in the process.

Recently Introduced Legislation:

HR 2150: Making Hope and Lifetime Credits Refundable
Introduced by: Robert Andrews, D-NJ
Referred to: Ways and Means Committee
Goal: **Would amend federal tax code to make Hope and Lifetime Learning education tax credits refundable, and would allow taxpayers to obtain short-term student loans by using the future refund of such credits as collateral for the loans. **

I would get that credit too next year since I'm an independent student. I think its Lifetime learning that grad students can get. I got that this year and got back a huge refund that surprised the heck out of me. (not mega bucks but huge by college student standards)

And H&R block has their famous (or notorious) refund anticipation loan that many taxpayers go for although they pay high fees for it. So the idea isn't new.

Plus there is often information and tips that many around here can give that I may not have ever thought or heard about.



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