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student loan interest deduction

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Financial Dictionary

Student Loan Interest Deduction

An adjustment to an individual's income for any interest paid on "higher education loans" during the tax year.

Investopedia Commentary

Only payments made during the first 60 months of finishing school qualify for the deduction and the deduction is usually limited to a certain amount.

See also: Deduction, Filing Status, Full-Time Student, Income Tax, Lifetime Learning Credit, Qualified Higher Education Expense

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