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New Member
posted Apr 3, 2024 7:44:21 PM

I paid over 1k in interest on student loans. However I didn't receive any refund. How can that be?

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2 Replies
Level 15
Apr 3, 2024 7:48:20 PM

The student loan deduction reduces your taxable income---it is not a refund.

Expert Alumni
Apr 3, 2024 7:51:58 PM

Exactly as stated above. 

So because it reduces your taxable income, it reduces your tax liability.

You pay less tax because of the loan payments, but it does not come back to you as a refund. 

 

@adonisheat6-gmai