http://blog.equifax.com/credit/credit-trends-managing-student-loan-debt-student-loans-on-the-rise/ Wed, 19 Jun 2013 22:02:22 +0000 hourly 1 http://wordpress.org/?v=3.5 http://blog.equifax.com/credit/credit-trends-managing-student-loan-debt-student-loans-on-the-rise/#comment-2061 Amelie Thu, 09 Feb 2012 01:16:01 +0000 http://ec2-50-19-98-117.compute-1.amazonaws.com/credit/credit-trends-managing-student-loan-debt-student-loans-on-the-rise/#comment-2061 No can do. If your iconme is too high to be eligible for the home buyer’s , then it’s also too high to deduct an IRA. If you are covered by a plan at work (the 401), you get no deduction if your AGI is more than $ 62,000 single or $ 103,000 married filing jointly.Besides, the is subject to a phaseout as well as being an interest free that has to be paid back over the next 15 years (or when you move out of the house).(Note, if the numbers had worked, yeah, you could get the to use as a downpayment to buy the house, then instead of using your savings as the downpayment, you would have used the savings to fund the IRA….the IRA rules merely require that you had enough earned iconme in the same year to be eligible to do the contribution, not that you actually stuck to a budget and spent that much less of your take home pay.)

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