What affect does paying off your student loans have on your taxes?
Sunday, December 6th, 2009
davidvanpaten asked:
I owe a little over 20k in a subsidized stafford loan that is accruing interest. If I pay off the entire loan, what affect will that have on my taxes? I’ve done my taxes for this past tax season and am thinking of the upcoming one. My annual income exceeds 70,000 a year, but only 70,000 of it is taxable.
I owe a little over 20k in a subsidized stafford loan that is accruing interest. If I pay off the entire loan, what affect will that have on my taxes? I’ve done my taxes for this past tax season and am thinking of the upcoming one. My annual income exceeds 70,000 a year, but only 70,000 of it is taxable.