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Get Educated on the Student Loan Interest Deduction
Many students and their parents find it necessary to take out student loans to help pay for the escalating costs of a college education. If you’re among them, you may be eligible for a full or partial deduction of up to $2,500 in interest paid on these loans, reports the Michigan Association of CPAs. The amount you may deduct depends on a number of factors, including your modified adjusted gross income (MAGI).
Tuition and Fees Deduction
Those facing skyrocketing college tuition bills will want to learn as much as possible about how the tuition and fee deduction can lower their tax bills.

Michigan Columbus Federal Credit Union
30419 Six Mile Rd.
Livonia, Michigan 48152
734.425.5080
Fax: 734.-425.1181
info@mcfcu.net

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