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Is there a way to spread student loan interest deductions?

Posted on 2/4/13 at 9:12 am
Posted by TheWiz
Third World, LA
Member since Aug 2007
11752 posts
Posted on 2/4/13 at 9:12 am
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?
Posted by rmc
Truth or Consequences
Member since Sep 2004
26830 posts
Posted on 2/4/13 at 9:13 am to
quote:

do we just have to eat it?


Never heard of taking a deduction as "eating it"
Posted by Ace Midnight
Between sanity and madness
Member since Dec 2006
90906 posts
Posted on 2/4/13 at 9:37 am to
quote:

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?


It's capped anyway. It being capped, I doubt there is any provision in shifting, other than working out an arrangement with your servicer to hold that last payment of the year until January 1st, but you'd just have the same problem the following year.
Posted by Siderophore
Member since Nov 2010
3338 posts
Posted on 2/4/13 at 10:50 am to
You can deduct 2500 a year for up to 5 years after repayment starts.
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