Students commonly wind their honors program cord and their major or minor cord together to create one multicolored cord. Other honor programs may require graduates to wear special cords. For example, graduates who are also members of Lambda Pi Eta, a nationally recognized honor society for communication majors, may also wear crimson colored cords on graduation day. A female graduate wears a crimson sash and tassle.
PMI fees vary from around 0.3 percent to about 1.5 percent of the original loan amount per year, depending on the size of the down payment and the borrowerâs credit score. It remains to be seen whether PMI premiums will continue to be tax-deductible. The PMI deduction expired in 2016, and the federal tax code is in flux as the Trump administration tries to overhaul it. Why wait to buy the house you want? Mortgage rates are low, so compare loans today.
So, if you have tax deductions of $15,000, you are married filing jointly and you fall into the 25% marginal tax bracket, you arenât saving $15,000 on your tax bill. You also arenât saving $3,750 on your tax bill ($15,000 x 25%). Youâre saving $650 ([$15,000 - $12,400] x 25%). In fact, the Reason Foundation, a libertarian think tank, found the average amount homeowners saved thanks to the mortgage interest tax deduction was just $615 in 2012.