Student Loan Interest Deduction

Student Loan Interest Deduction

Did You Know? Student loan interest is tax deductible. Learn more at www.RiverwalkDebt.com/blog

Posted by Riverwalk Debt Solutions on Monday, March 19, 2018

Did you know? You can deduct the interest you paid on qualified student loans during the 2017 tax year. This includes both required and voluntarily pre-paid interest. However, the deduction is limited to $2,500 or the actual amount of interest paid during the year. Deducting interest paid on student loans may lower your taxable income.
A qualified student loan is a loan taken out solely for the purpose of paying higher education expenses. Take a look at your Student Loan Interest Statement or 1098-E to see the amount of interest you paid on your eligible student loans.

Every tax situation is unique. If you need professional advice, consult with a qualified tax professional.

Hamilton, Ohio attracts recent STEAM graduates with new Talent Attraction Program (TAP) Scholarship

The city council of Hamilton, Ohio created the new program with the goal of attracting recent STEAM (Science, Technology, Engineering, the Arts, or Mathematics) graduates to the area. To qualify for the program, applicants must have obtained a STEAM degree sometime within the last 7 years. Applicants must currently reside outside of Hamilton but have plans to move to or live in one of the designated areas. They must also demonstrate employment within Hamilton/Butler County.

According to the foundation’s website, “The TAP Scholarship is what is known as a “reverse scholarship” where recent graduates will receive assistance with student loan debt.” Applications for the scholarship program will begin to be accepted on March 5, 2018. Those who are awarded may receive up to $5,000 over a 25-month time frame.

Visit the Hamilton Community Foundation website for additional details on the program and to subscribe to the TAP Scholarship mailing list.