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https://www.irs.gov/help/ita/can-i-claim-a-deduction-for-student-loan-interest
In order to qualify for the student loan interest deduction the following must apply:
If you meet the criteria to claim the student loan interest deduction, then you can go back and revisit your answers to be sure they are correct.
The student loan interest deduction is a deduction, not a credit. This means it can reduce your taxable income, but not below $0. You may not notice a difference in your tax refund, if you already had no tax liability.
Student Loan Interest Deduction
I think this is crazy! - you pay the same as everyone else there should be no cap on why I don't qualify for this deduction. I mean come on, the interest rate itself is nutz and I can't even knock the principal down because the interest rate is so high, and because now I'm in a different tax bracket to try and pay this off, which I can't, it's not even a deduction anymore. Come on congress. you really need to make a change. Unfortunately Biden is no longer in office to try and fight for us. Thanks all.
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