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One Little Way The Tax Code Sucks For Student Loan Borrowers


Stashed in: Student Loans, Personal Finance, Awesome

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Student loan interest is mostly not deductible... so older people who buy houses get their mortgage deductions at the expense of younger people who invest in their educations.

Also not deductible: credit card interest, car loan interest for cars not tied to business, personal loan interest... In fact, most forms of consumer debt besides loans to buy houses are not deductible:

http://blogs.wsj.com/totalreturn/2015/02/19/the-loan-interest-you-can-and-cant-deduct-on-your-taxes/

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