re: New tax bill- how will it impact you?

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Student loan interest will affect a lot of people. Not a fan of taking that out.

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I disagree. It seems bad on the surface, but the $2,500 limit is going to be replaced with the lower rates and larger exemption. That coupled with it being phased out pretty quickly and I don't think it really hurts very many people, and if it does it can't be more than a few hundred bucks.

That $2500 deduction that phased out was a joke and a slap in the face. Due to my wife's Vet school loans and my loans, we are way over the $2500 in interest. Plus, because she bought the a practice last year, her pay jumped up and we don't qualify at all anymore. Many people from Vet school and Med school have large student loan burdens, but never really got to take advantage of the deduction. Not to mention the people like me who came from poor backgrounds and had a good bit of student loans. We are fortunate with our jobs and are able to pay down on our loans fine and raise 3 children. I just wish the new tax bill helped out S Corps more since they are the small businesses that outnumber C Corps by a lot.

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Student loan interest will affect a lot of people. Not a fan of taking that out.

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Students already get the benefit of extremely low interest rates, why should they also get a deduction for the interest that they pay? Regardless, the higher standard deduction likely is better than itemizing for most people.