What’s the Scholar Loan Interest Deduction?

The education loan interest deduction is a federal tax deduction which allows one to subtract as much as $2,500 within the interest you paid on qualified figuratively speaking from your own taxable earnings. Its one of many tax breaks open to students and their parents to simply help pay money for advanced schooling.

Key Takeaways

  • The education loan interest deduction allows you to subtract as much as $2,500 associated with interest you paid on financing for advanced schooling. Continue reading