After a student graduates, they may start to do their own taxes, but may not be knowledgeable about the system. It is good to remind your son or daughter about federal income tax deductions that are available of up to $2,500 for payments they make on student loans. The person does not need to itemize in order to use these deductions.
http://www.bankrate.com/finance/taxes/student-loan-interest-deduction-claiming-it.aspx
https://www.irs.gov/pub/irs-pdf/p970.pdf
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