Education Loan Deduction, $2500 | 04.01.09

Posted in Student Loans By Student Loan Network Staff

The maximum tax deduction for interest paid on student loans each year is $2,500.

This benefit applies to all loans used to pay for postsecondary education school expenses. If you’re unsure how much interest you’ve paid on your loans you can contact your lender for further details, although they generally send out a 1098 tax form highlighting those details for you.

In order to qualify for this benefit your adjusted gross income must be less than $70,000 ($145,000 if filing jointly).

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4 Responses to “Education Loan Deduction, $2500”

  1. Shia Islamic Sms says on February 21, 2011 at 5:58 am:

    Nice Post. Very useful information specifically the last part :)

    Reply To This Comment
  2. UPSC Entrance says on February 19, 2011 at 10:45 pm:

    The first part of your blog is very impressive and good. Thanks for your hard work.

    Reply To This Comment
  3. Mumbai University says on February 19, 2011 at 10:43 pm:

    This is a wondeful post. I agree with your last part. I am impressed with it. Thank you.

    Reply To This Comment
  4. LIC says on January 4, 2011 at 3:15 am:

    As per as LIC concerned what need for loan. It will help you future in your financial requirement.

    Reply To This Comment

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