I am starting my first year of school and have taken out $11,000 in student loans. I am electing to pay the interest only payment on the loans, while I am in school, so the balance doesn't increase.
Can anyone explain to me the different education tax credits that are available? Also, am I able to take a tax credit AND deduct the interest paid on my loans (We already deduct the interest on my husband's student loans. He has been out of school for about 6 years now.) ?
Also, someone told me that I could deduct mileage for driving to school, is this true?
Any information on education related deductions and credits would be helpful, I am new at this. Thanks.
2007-04-17
11:30:30
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3 answers
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asked by
saratgoo
3