Interest was deductible until the early 1980s. Vivid memory
by Moose84 (click here to email the poster) (2024-02-25 16:54:33)

In reply to: entire payment or just interest?  posted by jt

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summer of 1980, when applying for my first loan, of my dad saying "after you graduate and are making money you will be glad to have this interest to write off." Nope. Eliminated while I was in school. Still, my $35K debt (10K undergrad, 25K law school) pales in comparison to today's world.

I feel like I am always on the losing side of these policies. My wife and I lived below our means to stash cash in 529 plans. Paid ~$700K out of pocket to get our 5 through college; 20 years of tuition in 12 years (2006-2018). Those that went to ND had some loans but happily 2 of the 3 have theirs paid off. Other two (UVA and SMC) had no loans based on their college choices. I played it safe and by the rules - others get bailed out. Oh well. I am grateful for the 529 saving plan incentive, however.

@jt - my middle child (it's always the middle child) may need your services as she is a doctor in debt, currently in a fellowship at Michigan. e-mail linked.

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