Student Loan Interest Deduction

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0.01 sec.

A reduction in one's taxable income by the amount one spends in interest payments in the process of repaying student loans. For example, if one's student loan payments included $800 in interest for the tax year, one is does not pay taxes on that $800. The student loan interest deduction is subject to certain restrictions, such as a modified adjusted gross income under a certain amount. Additionally, one may only take the deduction if one was legally obligated to pay interest on the loan. The maximum deduction one could take was $2500 in 2008.

Student Loan Interest Deduction

An adjustment to income for interest paid during the year on qualified higher-education loans. The deduction may be limited if income exceeds a specified amount.

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No references found			However, they are $10,000 ($125,000 - $115,000) into the $30,000 phaseout range for joint filers, so their student loan interest deduction for the year is limited to $667 [($30,000 - $10,000) + $30,000 x $1,000]. Deducting interest on qualified education loans by Ellentuck, Albert B. / The Tax Adviser For example, taxpayers can apply for a student loan interest deduction, tuition and fees deductions and even moving expenses. What Is the Difference Between Tax Deduction and Tax Credit? by Celeste Yates / General interest community For example, the student loan interest deduction will allow you to take up to $2,500 as a deduction on any interest you paid on a student loan debt. Managing Money Related to Schooling Costs for Tax Breaks by Erica Bosworth / Finance and Investment community			Structural Adjustment Structural Adjustment Loan Facility Structural Funds Structural Inflation structural inspection structural insulated panels Structural Unemployment structure Structure de placement Structured arbitrage transaction Structured Asset Trust Unit Repackagings Structured Debt Structured Finance Structured investment vehicle Structured Note Structured Portfolio Strategy Structured Product Structured Settlement Strumento finanzario Struttura del capitale Stub Stub Stock Stubs Student Student Loan Student Loan Interest Deduction Student Loan Marketing Association Studio della fattibilita Stuffing Style Style Box Style Drift Style Investing Stylized Facts SUB Pay Sub-Penny Quoting Sub-Prime Borrower Sub-Prime Lender Subaccount subagency Subasta con sistema holandes Subasta de bonos soberanos Subchapter M Subchapter S subchapter S-corporation Subclass subcontractor subdivide subdivision subdivision lot and block number Subempleo			Student Legal Services Office Student Lending Accountability, Transparency, and Enforcement Act Student Lending and Consolidations Student Liaison Committee Student Liaison Officer Student Librarian Association Student Library Enhancement Fund Student Life Business Center Student Life Center Student Life Cycle Management Student Life Endowment Fund Student Life Instructor Student Life Ministry Student Life Organization Student loan Student loan Student loan Student Loan Asset-Backed Security Student Loan Borrower Assistance Student Loan Consolidation Program Student Loan Corporation Student Loan Finance Association Student Loan Finance Corporation Student Loan Financial Group Student Loan Fund of Idaho Student Loan Guarantee Foundation of Arkansas Student Loan Interest Deduction Student Loan Interest Deductions Student Loan Marketing Association Student Loan Marketing Association Student Loan Marketing Association Student Loan Marketing Association Bonds Student Loan Marketing Association Fixed-Rate Notes Student Loan Marketing Association Global Notes Student Loan Network Student Loan Operating Fund Student Loan Processing Center Student Loan Reform Act of 1993 Student Loan Repayment Program Student Loan Repayment Regimes Student Loan Service Center Student Loan Task Force Student Loan Xpress Student loans Student loans Student Loans Company Ltd Student Loans Interest Deduction Student Loans Interest Deductions Student Loans of North Dakota Student Loans Over Projected Earnings student lodging Student Mail Code Student Managed Academic Resource Time Student Managed Assessment

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