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?

Yes, but they may deduct only those payments made during the first 60 months that interest payments are required on a loan. If interest payments on a student loan were first required before January 1, 1998, the months in which those payments were required count against the 60­month time limit for that loan. The 60­month period may run out at different times for different loans.

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

Search LawInfo's Student Loan Interest Deduction Resources

Lead Counsel Rated Law Firm

Click Here to Learn More