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Student Loan Interest Deduction Worksheet Fill Online, Printable from www.pdffiller.com What is Student Loan Interest Deduction? Student loan interest deduction is a tax benefit offered by the federal government to help alleviate some of the financial burden associated with paying for college. The deduction allows you to deduct up to $2,500 of the interest you paid on your student loans during the year. The deduction is available for both federal and private student loans, and can be filed as an adjustment to income. This means you can take the deduction even if you do not itemize on your tax return. In order to qualify for the deduction, you must meet certain criteria, such as being enrolled at least half-time in an eligible educational institution and having paid interest on a qualified student loan during the tax year. Types of Student Loan Interest Deduction There are two types of student loan interest deduction: the standard deduction and the additional student loan interest d...

Infographic Explaining Student Loan Interest Hike for Dummies from www.debt.org What Is Student Loan Interest? Student loan interest is the extra money you pay on top of your loan principal each month. It’s a cost that you must factor in when considering whether or not to take out a student loan. It’s important to understand the different types of interest that come with student loans, as well as the options available to you if you’re having trouble with loan payments. Let’s dive into student loan interest and what it means for you. Types of Student Loan Interest There are two main types of student loan interest. The first is fixed interest, which means that the interest rate stays the same throughout the life of the loan. This type of interest is generally offered on federal loans, which are backed by the government. The second type of interest is variable interest, which means that the interest rate can change over time. This type of interest is generally offered on private loans...