Metro Universities Resource

Tag: Taxes

What is the maximum student loan interest you can reclaim on taxes per year?

by admin on Aug.18, 2008, under Financial Aid


For instance, if i pay $5,000 vs $10,000 in student loan interest, do I get a bigger tax break or more money back if I pay $10,000 vs $5,000? Or is it capped at a certain amount once you pay a certain amount of money?
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Can student loan interest be an itemized deduction on your taxes?

by admin on May.10, 2008, under Financial Aid


The Student Loan Deduction allows you to deduct up to $2500. In 2007 I paid well over $2500 in interest and obviously want to take advantage of this.
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