If you made student loan payments last year, you may be able to deduct the interest. Both were paused for more than three years during the Covid-19 pandemic. But interest started accruing again in ...

However, there’s a tax deduction that may make repaying your student loans more affordable. Follow along as we explore how the student loan interest tax deduction works, who qualifies and how to ...

If you paid student loan interest last year, you could qualify for a tax deduction worth up to $2,500. You won’t receive that money back as a refund since the student loan interest deduction isn ...

The pandemic-era relief provided by the student loan payment moratorium ended in 2023, and by 2024, borrowers were back in ...

Among the options reportedly under consideration is eliminating the student loan interest deduction, a tax break that has provided financial relief to millions of low- and middle-income borrowers.

According to the IRS, you may be able to deduct a portion of student loan interest from your taxable income — up to $2,500 — thanks to the student loan interest tax deduction. The deduction ...

All new car and truck buyers who take out a car loan won't qualify for the tax deduction. Much will depend on your income, ...

With student loan interest payments resuming in late 2023, many borrowers are eligible to claim this deduction for their 2024 tax filings. The benefit, which has existed since 1997, can help ...

First off, the basics: 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 ...

However, the good news for millions of borrowers is that the IRS provides a student loan interest deduction that lets them subtract some or all of the finance charges they agreed to pay to secure ...