Minnesota has refund for student loan payments. Line 7 asks for the total original loan balances (not the amount paid). Why is max # allowed in this field is only 5000?

[jcerickson987]

https://www.revenue.state.mn.us/Forms_and_Instructions/m1slc_18.pdf

The 2018 form shows that in Line 11, you either enter your original total loan amount OR $5000, whichever is less. I was really confused at first, too!

[AnthonyC]

The maximum amount of the credit is $500 - if you take a look at the form and follow the calculations you can see that $5,000 is the maximum amount of the original loan that can be used for the calculation to not exceed the hard cap of $500.

https://www.revenue.state.mn.us/Forms_and_Instructions/m1slc_18.pdf

Note:  The 2018 form also specifically mentions this cap of $5,000 - see form line 11

[Edited:  1.22.19 to updated form for 2018]