Dig Up Your Student Loan Interest

by Kevin Ree

Can I STILL deduct interest payments for my student loans on my taxes?

YES!  Under the Student Loan Interest Deduction, you can take a tax deduction for the interest paid on student loans that you took out for yourself, your spouse, or your dependent. This benefit applies to all loans (not just federal student loans) used to pay for higher education expenses. The maximum deduction is $2,500 a year.

Dig up more info:  https://www.irs.gov/taxtopics/tc456

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