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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.

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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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