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What is the income limit for the student loan interest deduction in 2024? Single filers can claim the full $2,500 with MAGI up to $80,000. Those who made between $80,000 and $95,000 can claim a ...
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If you qualify for the full deduction, you deduct student loan interest up to $2,500 as long as you actually paid that much in interest. ... To be eligible to deduct student loan interest ...
In 10 years, the loan program experienced 230% growth in the loan portfolio and 130% growth in the loan recipients. Student loan debt in 2019 is the highest it has ever been. According to the latest loan debt statistics, student loan debt has become the second highest consumer debt category behind mortgage debt. [15]
In addition, Form 1098-E, which is the student loan interest statement, is due at the same time to anyone who paid $600 or more in student loan interest in the previous year. Despite discussions ...
The Biden administration has approved nearly $29 billion of student loan forgiveness for about 1.6 million people who were defrauded by their schools, but many of them are still waiting to see ...
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Student Loan Interest Deduction. ... the full deduction is available to a single or head-of-household filer with a MAGI less than $70,000 or less than $145,000 for a joint filer. The deduction is ...