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New Member
posted Jan 6, 2024 3:21:58 PM

If I took a personal loan out to consolidate only private student loans, can the interest I have paid so far be used as a tax deduction?

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2 Replies
Level 15
Jan 6, 2024 3:36:37 PM

Personal loans and the interest paid on personal loans are not deductible on a tax return.

Level 15
Jan 6, 2024 5:25:27 PM

Only if the lender issues a form 1098-E and that's unlikely.