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February 1, 2020
Question

Why does it say the maximum value for original student loans is 5000 when that’s not the case? Am I supposed to lie and go with the 5000 when it’s actually 14k?

  • February 1, 2020
  • 1 reply
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1 reply

ColeenD3
February 1, 2020

If this is in regards to the state of Minnesota, that is actually the rule for the credit - there is only a max of $5,000 original loan amount allowed to be used for the calculation.  The maximum amount of the actual credit is $500.  If you take a look at the form and follow the calculations, then you can see Line 11 mentions the $5,000 maximum directly on the form.