you can deduct the lesser of $2,500 or the actual interest you paid on federal or private student loans used for higher education. The IRS says it's an "above-the-line" deduction, meaning you don ...

To take advantage of the student loan interest deduction, it’s important to understand the rules. Let’s discuss eligibility requirements, income limits, and what loans qualify, as well as how ...

College expenses can be daunting, but understanding the available tax credits and deductions can ease the financial burden.

Here’s everything you need to know about the student loan interest deduction, who qualifies, the associated income limits and ...

Does the student loan interest deduction have an income limit? Yes, you won't be able to claim this deduction if your modified adjusted gross income is more than a certain amount during the tax year.

529 plans can be used to repay student loan debt, up to a lifetime maximum of $10,000 without penalty, plus $10,000 for each ...

Kiplinger is part of Future US Inc, an international media group and leading digital publisher. Visit our corporate site.

The interest you pay on your mortgage could help you lower your taxes. With the mortgage interest deduction (MID ... child tax credit and student loan interest). Live Assisted plan includes ...

Personal Finance. Student Loan Interest Deduction Income Limit 2025: How much taxpayers can deduct? Student loans can feel like they'll follow you forever, but what happens if the borrower passes ...

(The income limit for married couples who file ... You use the information provided on the form to claim the student loan interest deduction. Another tax form that can be related to your student ...

If your modified adjusted gross income (MAGI) is less than $80,000 (or $160,000 if filing a joint return), there is a special deduction allowed for paid interest on a student loan used for higher ...