With my wife and I having personal loans now, we paid off a very large amount of student loan interest this year. Is there some way to spread this out over a few years, or do we just have to eat it?
You can deduct 2500 a year for up to 5 years after repayment starts.
quote:Why is any student loan interest deductible if the costs of tuition and other educational expenses are not (some are deductible, but not all)? I would think that tuition, the cost of attending school, would get priority as a deduction over interest, the cost of financing attendance.
Why they don't allow sl deductions for people making over $75k is beyond me...