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posted Mar 28, 2025 12:37:02 PM

Minnesota State Return: Under student loan information, does this include interest payments made before the student is out of school?

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1 Replies
Expert Alumni
Mar 28, 2025 12:41:37 PM

Yes, the interest deduction is available when paid on your own loan.

 

Student Loan Credit | Minnesota Department of Revenue states: The credit amount depends on your income, loan payments, and original loan amount. The maximum credit is $500 each year or $1,000 for married couples who file a joint return (if both spouses made payments on their own qualified loans).