The interest being deductible on the student loan is nice and all, but not the enormous tax break that it would seem. Its a non-deductible tax credit...meaning that if you have too many deductions you don't get it back. I think that if you paid $100 in interest you get to write off about $39 if you are in the highest bracket.
Bear in mind that I'm not a tax accountant, and this just my understanding.
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