Does An Individual Have To Itemize His/Her Income Tax Deductions To Claim The Student Loan Interest Deduction?
No. The student loan interest deduction is available regardless of whether an individual elects to take the standard deduction or to itemize deductions.
The information on this page is meant to provide a general overview of the law. The laws in your state and/or city may deviate significantly from those described here. If you have specific questions related to your situation you should speak with a local attorney.
Additional Student Loan Interest Deduction Articles
- Are There Any Limits On What Qualifies As A Student Loan?
- Is A Student Loan Interest Deduction Available If The Student Loan Is Not Federally Guaranteed Or Otherwise Subsidized?
- What Costs Are Included In The Costs Of Attendance?
- Is The Deduction Available For Interest Paid On Loans Used To Pay For Graduate School?
- Are There Any Limits On Who May Take The Student Loan Interest Deduction?
- May A Former Student Whose Loans Are Already In Repayment Deduct The Interest They Pay On A Student Loan On Or After January 1, 1998?
- May A Parent Claim The Student Loan Interest Deduction If The Parent Borrows To Pay His/Her Childs Costs Of Attending College?
- If An Individual Has Paid More Than $1,000 In Interest On Student Loans In 1998 And Is Otherwise Eligible To Take The Maximum Student Loan Interest Deduction, How Large A Deduction May The Individual Claim?
- If A Student Is Claimed As A Dependent By His/Her Parent In A Particular Taxable Year, May The Student Take The Student Loan Interest Deduction For Student Loan Interest That He/She Pays In That Year?
- Are Tax Benefits Available If The Student Repays His/Her Loan By Performing Community Service Rather Than Making Cash Payments?