{"id":1141,"date":"2018-01-16T00:18:27","date_gmt":"2018-01-16T05:18:27","guid":{"rendered":"https:\/\/www.etax.com\/blog\/?p=1141"},"modified":"2018-01-16T00:18:27","modified_gmt":"2018-01-16T05:18:27","slug":"student-loan-interest-deduction-2017","status":"publish","type":"post","link":"https:\/\/www.etax.com\/blog\/2018\/01\/16\/student-loan-interest-deduction-2017\/","title":{"rendered":"Student Loan Interest Deduction for 2017"},"content":{"rendered":"<p class=\"p2\"><span class=\"s2\">Whether you\u2019re in college currently, or have entered repayment of your student loans, every penny can matter. Maximize your tax refund by taking all the deductions you qualify for, including student loan interest. You may be eligible to deduct up to $2,500 from your taxable income if you\u2019ve paid interest on your student loans. For example, those in the 15% tax bracket may receive a maximum of $375 as a <a href=\"https:\/\/www.etax.com\/blog\/2026\/02\/19\/new-auto-loan-interest-deduction-how-to-save-up-to-10000-on-your-taxes-2025-2028\/\">deduction<\/a> for student loan interest when you file your tax return.<\/span><\/p>\n<h4 class=\"p2\"><span class=\"s1\"><b>Additional Education Costs<\/b><\/span><\/h4>\n<p class=\"p2\"><span class=\"s2\">Paying back your student loans generally means you\u2019ll pay more than your original principle, as you\u2019re required to pay interest on the amount borrowed. The deduction is available to student loan payers who make less than $80,000 a year, and is relative to the amount of interest you paid. Graduates who earn between $65,000 and $80,000 annually can deduct a reduced interest amount. <\/span><\/p>\n<p class=\"p2\"><span class=\"s2\">Parents can deduct interest on student loans taken for their children\u2019s education. However, if you are claimed as a dependent on your parents\u2019 tax return and the student loan is in your name, the deduction is then forfeited. <\/span><\/p>\n<p class=\"p2\"><span class=\"s2\">The deduction isn\u2019t limited just to graduates, either. If you\u2019re making payments on your loan while you\u2019re still in school, you are eligible to claim it as long as you are paying interest. <\/span><\/p>\n<p class=\"p2\"><span class=\"s2\">Students still in school may be able to claim additional education deductions, one being a deduction of up to $4,000 in tuition and fees. Or, you can opt to claim one of two straight tax credits: the American Opportunity Tax Credit for up to $2,500 or the Lifetime Learning Credit up to $2,000.<\/span><\/p>\n<p class=\"p2\"><span class=\"s2\">Depending on your income and additional qualifications, you can determine which of these credits will save you the most. In most situations, credits offer more savings than deductions, which lower your taxable income. Credits, however lower the amount you actually pay in taxes. <\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Whether you\u2019re in college currently, or have entered repayment of your student loans, every penny can matter. Maximize your tax refund by taking all the deductions you qualify for, including student loan interest. You may be eligible to deduct up to $2,500 from your taxable income if you\u2019ve paid interest on your student loans. For [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[123],"tags":[570,571],"class_list":["post-1141","post","type-post","status-publish","format-standard","hentry","category-deductions-2","tag-student-loan-interest","tag-student-loans"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.4 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>Student Loan Interest Deduction for 2017 - eTax.com\u00ae Blog<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.etax.com\/blog\/2018\/01\/16\/student-loan-interest-deduction-2017\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Student Loan Interest Deduction for 2017 - eTax.com\u00ae Blog\" \/>\n<meta property=\"og:description\" content=\"Whether you\u2019re in college currently, or have entered repayment of your student loans, every penny can matter. Maximize your tax refund by taking all the deductions you qualify for, including student loan interest. You may be eligible to deduct up to $2,500 from your taxable income if you\u2019ve paid interest on your student loans. For [&hellip;]\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.etax.com\/blog\/2018\/01\/16\/student-loan-interest-deduction-2017\/\" \/>\n<meta property=\"og:site_name\" content=\"eTax.com\u00ae Blog\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/eTaxcom-135749976483724\/\" \/>\n<meta property=\"article:published_time\" content=\"2018-01-16T05:18:27+00:00\" \/>\n<meta name=\"author\" content=\"admin\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"admin\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"2 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\\\/\\\/www.etax.com\\\/blog\\\/2018\\\/01\\\/16\\\/student-loan-interest-deduction-2017\\\/#article\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/www.etax.com\\\/blog\\\/2018\\\/01\\\/16\\\/student-loan-interest-deduction-2017\\\/\"},\"author\":{\"name\":\"admin\",\"@id\":\"https:\\\/\\\/www.etax.com\\\/blog\\\/#\\\/schema\\\/person\\\/ddb9378caffbf2f32f89a84d213b3ef4\"},\"headline\":\"Student Loan Interest Deduction for 2017\",\"datePublished\":\"2018-01-16T05:18:27+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\\\/\\\/www.etax.com\\\/blog\\\/2018\\\/01\\\/16\\\/student-loan-interest-deduction-2017\\\/\"},\"wordCount\":318,\"publisher\":{\"@id\":\"https:\\\/\\\/www.etax.com\\\/blog\\\/#organization\"},\"keywords\":[\"student loan interest\",\"student loans\"],\"articleSection\":[\"Deductions\"],\"inLanguage\":\"en-US\"},{\"@type\":\"WebPage\",\"@id\":\"https:\\\/\\\/www.etax.com\\\/blog\\\/2018\\\/01\\\/16\\\/student-loan-interest-deduction-2017\\\/\",\"url\":\"https:\\\/\\\/www.etax.com\\\/blog\\\/2018\\\/01\\\/16\\\/student-loan-interest-deduction-2017\\\/\",\"name\":\"Student Loan Interest Deduction for 2017 - eTax.com\u00ae Blog\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/www.etax.com\\\/blog\\\/#website\"},\"datePublished\":\"2018-01-16T05:18:27+00:00\",\"breadcrumb\":{\"@id\":\"https:\\\/\\\/www.etax.com\\\/blog\\\/2018\\\/01\\\/16\\\/student-loan-interest-deduction-2017\\\/#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\\\/\\\/www.etax.com\\\/blog\\\/2018\\\/01\\\/16\\\/student-loan-interest-deduction-2017\\\/\"]}]},{\"@type\":\"BreadcrumbList\",\"@id\":\"https:\\\/\\\/www.etax.com\\\/blog\\\/2018\\\/01\\\/16\\\/student-loan-interest-deduction-2017\\\/#breadcrumb\",\"itemListElement\":[{\"@type\":\"ListItem\",\"position\":1,\"name\":\"Home\",\"item\":\"https:\\\/\\\/www.etax.com\\\/blog\\\/\"},{\"@type\":\"ListItem\",\"position\":2,\"name\":\"Student Loan Interest Deduction for 2017\"}]},{\"@type\":\"WebSite\",\"@id\":\"https:\\\/\\\/www.etax.com\\\/blog\\\/#website\",\"url\":\"https:\\\/\\\/www.etax.com\\\/blog\\\/\",\"name\":\"eTax.com\u00ae Blog\",\"description\":\"\",\"publisher\":{\"@id\":\"https:\\\/\\\/www.etax.com\\\/blog\\\/#organization\"},\"potentialAction\":[{\"@type\":\"SearchAction\",\"target\":{\"@type\":\"EntryPoint\",\"urlTemplate\":\"https:\\\/\\\/www.etax.com\\\/blog\\\/?s={search_term_string}\"},\"query-input\":{\"@type\":\"PropertyValueSpecification\",\"valueRequired\":true,\"valueName\":\"search_term_string\"}}],\"inLanguage\":\"en-US\"},{\"@type\":\"Organization\",\"@id\":\"https:\\\/\\\/www.etax.com\\\/blog\\\/#organization\",\"name\":\"eTax.com\",\"url\":\"https:\\\/\\\/www.etax.com\\\/blog\\\/\",\"logo\":{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\\\/\\\/www.etax.com\\\/blog\\\/#\\\/schema\\\/logo\\\/image\\\/\",\"url\":\"https:\\\/\\\/www.etax.com\\\/blog\\\/wp-content\\\/uploads\\\/2020\\\/08\\\/44729_463802350345150_698036533_n.png\",\"contentUrl\":\"https:\\\/\\\/www.etax.com\\\/blog\\\/wp-content\\\/uploads\\\/2020\\\/08\\\/44729_463802350345150_698036533_n.png\",\"width\":225,\"height\":225,\"caption\":\"eTax.com\"},\"image\":{\"@id\":\"https:\\\/\\\/www.etax.com\\\/blog\\\/#\\\/schema\\\/logo\\\/image\\\/\"},\"sameAs\":[\"https:\\\/\\\/www.facebook.com\\\/eTaxcom-135749976483724\\\/\",\"https:\\\/\\\/x.com\\\/AskETAX\",\"https:\\\/\\\/www.youtube.com\\\/user\\\/855ASKETAX\"]},{\"@type\":\"Person\",\"@id\":\"https:\\\/\\\/www.etax.com\\\/blog\\\/#\\\/schema\\\/person\\\/ddb9378caffbf2f32f89a84d213b3ef4\",\"name\":\"admin\",\"image\":{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\\\/\\\/secure.gravatar.com\\\/avatar\\\/11f5dc3cde415e2a21a1f661e9da122266d26fe459fff87652a83908cc05aae5?s=96&d=mm&r=g\",\"url\":\"https:\\\/\\\/secure.gravatar.com\\\/avatar\\\/11f5dc3cde415e2a21a1f661e9da122266d26fe459fff87652a83908cc05aae5?s=96&d=mm&r=g\",\"contentUrl\":\"https:\\\/\\\/secure.gravatar.com\\\/avatar\\\/11f5dc3cde415e2a21a1f661e9da122266d26fe459fff87652a83908cc05aae5?s=96&d=mm&r=g\",\"caption\":\"admin\"},\"url\":\"https:\\\/\\\/www.etax.com\\\/blog\\\/author\\\/admin\\\/\"}]}<\/script>\n<!-- \/ Yoast SEO plugin. -->","yoast_head_json":{"title":"Student Loan Interest Deduction for 2017 - eTax.com\u00ae Blog","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/www.etax.com\/blog\/2018\/01\/16\/student-loan-interest-deduction-2017\/","og_locale":"en_US","og_type":"article","og_title":"Student Loan Interest Deduction for 2017 - eTax.com\u00ae Blog","og_description":"Whether you\u2019re in college currently, or have entered repayment of your student loans, every penny can matter. Maximize your tax refund by taking all the deductions you qualify for, including student loan interest. You may be eligible to deduct up to $2,500 from your taxable income if you\u2019ve paid interest on your student loans. For [&hellip;]","og_url":"https:\/\/www.etax.com\/blog\/2018\/01\/16\/student-loan-interest-deduction-2017\/","og_site_name":"eTax.com\u00ae Blog","article_publisher":"https:\/\/www.facebook.com\/eTaxcom-135749976483724\/","article_published_time":"2018-01-16T05:18:27+00:00","author":"admin","twitter_misc":{"Written by":"admin","Est. reading time":"2 minutes"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"Article","@id":"https:\/\/www.etax.com\/blog\/2018\/01\/16\/student-loan-interest-deduction-2017\/#article","isPartOf":{"@id":"https:\/\/www.etax.com\/blog\/2018\/01\/16\/student-loan-interest-deduction-2017\/"},"author":{"name":"admin","@id":"https:\/\/www.etax.com\/blog\/#\/schema\/person\/ddb9378caffbf2f32f89a84d213b3ef4"},"headline":"Student Loan Interest Deduction for 2017","datePublished":"2018-01-16T05:18:27+00:00","mainEntityOfPage":{"@id":"https:\/\/www.etax.com\/blog\/2018\/01\/16\/student-loan-interest-deduction-2017\/"},"wordCount":318,"publisher":{"@id":"https:\/\/www.etax.com\/blog\/#organization"},"keywords":["student loan interest","student loans"],"articleSection":["Deductions"],"inLanguage":"en-US"},{"@type":"WebPage","@id":"https:\/\/www.etax.com\/blog\/2018\/01\/16\/student-loan-interest-deduction-2017\/","url":"https:\/\/www.etax.com\/blog\/2018\/01\/16\/student-loan-interest-deduction-2017\/","name":"Student Loan Interest Deduction for 2017 - eTax.com\u00ae Blog","isPartOf":{"@id":"https:\/\/www.etax.com\/blog\/#website"},"datePublished":"2018-01-16T05:18:27+00:00","breadcrumb":{"@id":"https:\/\/www.etax.com\/blog\/2018\/01\/16\/student-loan-interest-deduction-2017\/#breadcrumb"},"inLanguage":"en-US","potentialAction":[{"@type":"ReadAction","target":["https:\/\/www.etax.com\/blog\/2018\/01\/16\/student-loan-interest-deduction-2017\/"]}]},{"@type":"BreadcrumbList","@id":"https:\/\/www.etax.com\/blog\/2018\/01\/16\/student-loan-interest-deduction-2017\/#breadcrumb","itemListElement":[{"@type":"ListItem","position":1,"name":"Home","item":"https:\/\/www.etax.com\/blog\/"},{"@type":"ListItem","position":2,"name":"Student Loan Interest Deduction for 2017"}]},{"@type":"WebSite","@id":"https:\/\/www.etax.com\/blog\/#website","url":"https:\/\/www.etax.com\/blog\/","name":"eTax.com\u00ae Blog","description":"","publisher":{"@id":"https:\/\/www.etax.com\/blog\/#organization"},"potentialAction":[{"@type":"SearchAction","target":{"@type":"EntryPoint","urlTemplate":"https:\/\/www.etax.com\/blog\/?s={search_term_string}"},"query-input":{"@type":"PropertyValueSpecification","valueRequired":true,"valueName":"search_term_string"}}],"inLanguage":"en-US"},{"@type":"Organization","@id":"https:\/\/www.etax.com\/blog\/#organization","name":"eTax.com","url":"https:\/\/www.etax.com\/blog\/","logo":{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/www.etax.com\/blog\/#\/schema\/logo\/image\/","url":"https:\/\/www.etax.com\/blog\/wp-content\/uploads\/2020\/08\/44729_463802350345150_698036533_n.png","contentUrl":"https:\/\/www.etax.com\/blog\/wp-content\/uploads\/2020\/08\/44729_463802350345150_698036533_n.png","width":225,"height":225,"caption":"eTax.com"},"image":{"@id":"https:\/\/www.etax.com\/blog\/#\/schema\/logo\/image\/"},"sameAs":["https:\/\/www.facebook.com\/eTaxcom-135749976483724\/","https:\/\/x.com\/AskETAX","https:\/\/www.youtube.com\/user\/855ASKETAX"]},{"@type":"Person","@id":"https:\/\/www.etax.com\/blog\/#\/schema\/person\/ddb9378caffbf2f32f89a84d213b3ef4","name":"admin","image":{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/secure.gravatar.com\/avatar\/11f5dc3cde415e2a21a1f661e9da122266d26fe459fff87652a83908cc05aae5?s=96&d=mm&r=g","url":"https:\/\/secure.gravatar.com\/avatar\/11f5dc3cde415e2a21a1f661e9da122266d26fe459fff87652a83908cc05aae5?s=96&d=mm&r=g","contentUrl":"https:\/\/secure.gravatar.com\/avatar\/11f5dc3cde415e2a21a1f661e9da122266d26fe459fff87652a83908cc05aae5?s=96&d=mm&r=g","caption":"admin"},"url":"https:\/\/www.etax.com\/blog\/author\/admin\/"}]}},"_links":{"self":[{"href":"https:\/\/www.etax.com\/blog\/wp-json\/wp\/v2\/posts\/1141","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.etax.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.etax.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.etax.com\/blog\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.etax.com\/blog\/wp-json\/wp\/v2\/comments?post=1141"}],"version-history":[{"count":1,"href":"https:\/\/www.etax.com\/blog\/wp-json\/wp\/v2\/posts\/1141\/revisions"}],"predecessor-version":[{"id":1142,"href":"https:\/\/www.etax.com\/blog\/wp-json\/wp\/v2\/posts\/1141\/revisions\/1142"}],"wp:attachment":[{"href":"https:\/\/www.etax.com\/blog\/wp-json\/wp\/v2\/media?parent=1141"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.etax.com\/blog\/wp-json\/wp\/v2\/categories?post=1141"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.etax.com\/blog\/wp-json\/wp\/v2\/tags?post=1141"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}