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Are Tax Benefits Available If The Student Repays His/Her Loan By Performing Community Service Rather Than Making Cash Payments?

There may be. Loan forgiveness provided in return for community service is tax­free when it is part of certain lending programs run by the Federal, state, or local government, educational institutions, or charitable organizations. Students should consult a tax advisor to determine whether they qualify.

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This article is intended to be helpful and informative. But even common legal matters can become complex and stressful. A qualified student loan interest deduction lawyer can address your particular legal needs, explain the law, and represent you in court. Take the first step now and contact a local student loan interest deduction attorney to discuss your specific legal situation.

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