Student Loan Interest Deduction

We know. You took on all that student loan debt just to get a degree in 18th Century Dutch philosophy and end up answering phones on the night shift at Geico. But hey, it was fun living in the dorms, right?

Anyway, the federal government gives you a little break on paying back those loans. The student loan interest deduction lets you deduct up to $2,500 off your taxes.

Now...that's loan interest, not just the loan itself. Whatever you pay toward principal doesn't count. But...it's something. Bernard Nieuwentyt would be proud.