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Level 1
Apr 18, 2020 8:09 PM UTC
Question

School aid

I am currently in school and getting financial aid . I always thought I had to pay after I graduate, my loans show up in my credit report. 
will my federal taxes apply to that?

    1 reply

    VictoriaD75
    Employee Tax Expert
    Employee Tax Expert
    May 5, 2020 5:51 PM UTC

    Student loan interest is deductible up to $2,500. Some income limitations apply. See the link below for more details.

     

    Student Loan Interest Deduction

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