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March 22, 2022
Question

I have paid in full my son's disbursed loan. Do I report this and are there tax breaks for repaying the loan early?

  • March 22, 2022
  • 1 reply
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The loan was paid while he's still enrolled at the university.

1 reply

Employee
March 22, 2022

No there are no tax breaks for paying off the student loan.   You can only deduct the interest paid in 2021 if you were the person who signed or co-signed the student loan.

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