Sunday, May 8, 2016

Should You Hold Onto Student Loans for Tax Benefits?

After we paid off $110,000 in student loans in just four years my wife and I received a lot of nice notes from family and friends supportive of our efforts to prioritize getting out of debt. I was surprised, however, by the few notes I received from concerned friends telling me I was losing out on valuable tax deductions by paying off all that debt! Were they correct? Were my wife and I leaving money on the table by paying off our student loans early? I decided to crunch the numbers to find out.