Can I use pre tax income to pay off student loans?

Question

I'm only three years out of school but the prospect of paying these things off is stifling. Also I am trying to save up to get married and re-enter school in a few years. Any ideas?

Answer 1

No -- you can't deduct the total value of your student loans from your taxable income.

However, under certain circumstances part of the interest is deductable (it is dependent on your income level). You should be able to find out more about in the Deductibles section of the 1040 instructions.