student tax benefits

Student Loan Interest Deduction Explained: 2026 Rules for Students

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Student Loan Interest Deduction Explained (2026 Rules for Students) The Student Loan Interest Deduction is a tax benefit that allows eligible students and graduates to deduct up to $2,500 of interest paid on qualified student loans each year. This deduction helps reduce taxable income and is especially valuable for borrowers who have recently entered the … Read more

What Is Modified Adjusted Gross Income (MAGI)? How It Affects Students and Their Taxes

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What Is Modified Adjusted Gross Income (MAGI)? A Simple Guide for Students Modified Adjusted Gross Income (MAGI) is an income figure used by the U.S. government to determine eligibility for certain tax benefits, deductions, and student loan–related rules.It starts with your Adjusted Gross Income (AGI) and then adds back specific income items to arrive at … Read more