Can I Deduct Interest Paid on a Defaulted Student Loan?

Answer Until 2012, the Internal Revenue Service subsidizes some of the cost of most student loans with a deduction on student loan interest. However, just having a student loan does not necessarily qualif... Read More »

Top Q&A For: Can I Deduct Interest Paid on a Defaulted Stude...

I defaulted on a student loan, It was paid in full 5 years ago. Is it possible to get new loans for education?

Once a defaulted loan is paid in full you regain eligibilty for Title IV funding (financial aid), but your credit record will continue to show the defaulted loan for 7 years. If you are totally pa... Read More »

Can I deduct the interest paid on a car loan?

There are very few types of interest that can be deducted on your taxes. Whether interest on a car loan is deductible will depend on whether it is a personal car loan or you are self-employed and t... Read More »

Can I deduct student loan interest?

It's possible to deduct student loan interest. Your loan provider will send you a 1098-E form that lists the amount of interest you can deduct on Schedule A for Form 1040.Source:Internal Revenue Se... Read More »

Can I deduct student loan interest on my taxes?

Interest on student loans can be deducted if all the following apply: you paid interest the previous year, you aren't married filing separately, your modified gross income is under $70k or $145k if... Read More »