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adonisheat6-gmai
April 4, 2024
Question

I paid over 1k in interest on student loans. However I didn't receive any refund. How can that be?

  • April 4, 2024
  • 2 replies
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xmasbaby0
Employee
April 4, 2024

The student loan deduction reduces your taxable income---it is not a refund.

**Disclaimer: Every effort has been made to offer the most correct information possible. The poster disclaims any legal responsibility for the accuracy of the information that is contained in this post.**
KrisD15
KrisD15
April 4, 2024

Exactly as stated above. 

So because it reduces your taxable income, it reduces your tax liability.

You pay less tax because of the loan payments, but it does not come back to you as a refund. 

 

@adonisheat6-gmai 

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