Key Points ・The student loan interest deduction can reduce your taxable income by up to $2,500 per year. ・You do not need to ...

Disclosures: TurboTax Free Edition is for Simple Form 1040 returns only (no schedules except for Earned Income Tax Credit, Child Tax Credit and Student Loan Interest). Roughly 37% of taxpayers ...

When Can You Deduct Loan Interest From Your Taxable Income? The interest you pay on mortgages, student loans and business credit products is tax deductible, with certain limits.

A tax deduction reduces your taxable income and how much tax you owe. You can itemize your deductions or take a fixed amount with the standard deduction.

Many members of the Georgetown University Law Center community fear that a changing landscape will push people away from the ...

Eligibility for student loan interest deduction The student loan interest deduction lets eligible taxpayers deduct up to $2,500 in student loan interest from their taxable income each year.

Taxpayers will see a number of new credits and deductions when they file their taxes in 2026. Here’s when other “big ...

The Senate parliamentarian struck down several key provisions in President Donald Trump's major tax and spending bill.

Refinancing your student loans can save you money in the long run, but it may not be a viable option for younger borrowers with little to no credit history.

Millions of Americans are seeing their credit scores suffer now that the U.S. government has resumed referring missed student loan payments for debt collection ...

Millions of Americans are seeing their credit scores suffer now that the U.S. government has resumed referring missed student loan payments for debt collection. After 90 days of non-payment ...