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Try These 4 Student Loan Tax
Tricks
If you want to save money on your student loans, try these 4 student
loan tax tricks.
There is a light at the end of the student loan repayment tunnel. And
it comes at an unlikely time each year: tax season.
Student Loan Tax Trick #1:
Student Loan Interest Deduction
With the Student Loan Interest Deduction, you can deduct up to
$2,500 each year of student loan interest that you paid on a qualified
student loan so long as you are enrolled at least half-time and are
working toward a degree.
Student Loan Tax Trick #2: The
American Opportunity Credit
The American Opportunity Credit is a tax credit that allows you (or a
person paying for your education) to claim up to $2,500 per year for
the first four years of school as you work toward a degree with at
least half-time enrollment.
Student Loan Tax Trick
#3: The Lifetime Learning
Credit
The Lifetime Learning Credit is a tax credit that allows you to
claim up to $2,000 per year for any college tuition, fees, books,
supplies and equipment that were required for your course.
Student Loan Tax Trick #4:
Tuition and Fees Deduction
The Tuition and Fees Deduction, which expired in 2016, enabled
you to reduce the amount of your income that was subject to
income tax by up to $4,000. The deduction could be utilized for
you, your spouse or a dependent for your tuition and fees (but not
your room and board).
Contact Us
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4 student loan tax tricks

  • 1. Try These 4 Student Loan Tax Tricks If you want to save money on your student loans, try these 4 student loan tax tricks. There is a light at the end of the student loan repayment tunnel. And it comes at an unlikely time each year: tax season.
  • 2. Student Loan Tax Trick #1: Student Loan Interest Deduction With the Student Loan Interest Deduction, you can deduct up to $2,500 each year of student loan interest that you paid on a qualified student loan so long as you are enrolled at least half-time and are working toward a degree.
  • 3. Student Loan Tax Trick #2: The American Opportunity Credit The American Opportunity Credit is a tax credit that allows you (or a person paying for your education) to claim up to $2,500 per year for the first four years of school as you work toward a degree with at least half-time enrollment.
  • 4. Student Loan Tax Trick #3: The Lifetime Learning Credit The Lifetime Learning Credit is a tax credit that allows you to claim up to $2,000 per year for any college tuition, fees, books, supplies and equipment that were required for your course.
  • 5. Student Loan Tax Trick #4: Tuition and Fees Deduction The Tuition and Fees Deduction, which expired in 2016, enabled you to reduce the amount of your income that was subject to income tax by up to $4,000. The deduction could be utilized for you, your spouse or a dependent for your tuition and fees (but not your room and board).
  • 6. Contact Us Student Loan Questions: questions@makelemonade.co Press Inquiries: press@makelemonade.co All Other Inquiries: contact@makelemonade.co Like Us On Facebook: www.facebook.com/yesmakelemonade