5+ Tax Deductions and Credits for College Students to Save Money

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The federal government does incentivize continuing education through tax deductions and credits.

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Tax Deductions and Credits for College Students to Save Money

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This one lowers your tax bill on a dollar-for-dollar basis, but only one can be claimed.

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You can deduct the interest paid as part of your student loan payments

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If you aren’t claimed as a dependent on someone’s tax return in 2020, and you didn’t receive a check, you could claim it.

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The tax code awards this behavior by offering you the ability to deduct your contributions from your taxable income

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5+ Tax Deductions and Credits for College Students to Save Money

The federal government does incentivize continuing education through tax deductions and credits.

Tax Deductions and Credits for College Students to Save Money

This one lowers your tax bill on a dollar-for-dollar basis, but only one can be claimed.

Lifetime Learning Credit

You can deduct the interest paid as part of your student loan payments

Student Loan Interest Deduction

If you aren’t claimed as a dependent on someone’s tax return in 2020, and you didn’t receive a check, you could claim it.

Recovery Rebate Tax Credit

The tax code awards this behavior by offering you the ability to deduct your contributions from your taxable income

Retirement Account Contributions

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