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Can I deduct student loan interest if I am no longer in school?

April 26, 2017Business deduct Finance longer student loan taxes United

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Can I deduct student loan interest if I am no longer in school?

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As long as you are paying on a student loan, you can deduct the student loan interest. Assuming that when you got the loan you were at least half time student and going to school towards a degree you student loan qualifies. Every year if you are paying on the loan, you will receive a 1098E (i think, there are so many). Other times you can print the 1098 from the website at the beginning of every year to file your taxes. If it takes you 10 years to pay the loan, you can also deduct it those 10 years.