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SPS Loan Modification – Cut Payments by Upto 50%, loan payments.#Loan #payments


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Over 1 Million Troubled Families have got help under HAMP Program, Have You?

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Thousands of struggling families are able to qualify for SPS Loan Modification plan.

If you are facing hardships in making your mortgage payments due to loss of income, income reduction, lay off from work, unemployment, divorce/seperation, upside down home, unaffordable payments, reduction in work, etc then you may be eligible for SPS Mortgage Help.

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Will I Qualify for SPS Loan Modification Plan?

You may be eligible for Loan Modification with SPS if you are facing financial hardships or see it coming in the near future.

Hardships can be anything like,

  • Reduction in Income – Due to Job Loss, Less Salary, Unemployment, Layoff, Divorce, Etc.
  • Unaffordable Payments – Due to High Interest Rate, Adjustable Rate, High Taxes or Insurance
  • Upside down on Home – If you owe more than your home is worth and you can’t refinance
  • Behind on Payments – If you are already late on your mortgage payments
  • Increase in Expenses, Medical/Health Issues, Family Crisis, Business Loss, Etc.

If you Feel you are experiencing ANY of the above, You may be Eligible for,


FinAid, Calculators, Loan Calculator, loan payments.#Loan #payments


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This Loan Payment Calculator computes an estimate of the size of your monthly loan payments and the annual salary required to manage them without too much financial difficulty. This loan calculator can be used with Federal education loans (Stafford, Perkins and PLUS) and most private student loans. (This student loan calculator can also be used as an auto loan calculator or to calculate your mortgage payments.)

This loan calculator assumes that the interest rate remains constant throughout the life of the loan. The Federal Stafford Loan has a fixed interest rate of 6.8% and the Federal PLUS loan has a fixed rate of 7.9%. (Perkins loans have a fixed interest rate of 5%.)

This loan calculator also assumes that the loan will be repaid in equal monthly installments through standard loan amortization (i.e., standard or extended loan repayment). The results will not be accurate for some of the alternate repayment plans, such as graduated repayment and income contingent repayment.

Loan fees are used to adjust the initial loan balance so that the borrower nets the same amount after the fees are deducted.

Some educational loans have a minimum monthly payment. Please enter the appropriate figure ($50 for Stafford Loans, $40 for Perkins Loans and $50 for PLUS Loans) in the minimum payment field. Enter a higher figure to see how much money you can save by paying off your debt faster. It will also show you how long it will take to pay off the loan at the higher monthly payment. You can also calculate private student loan eligibility on comparison sites like Credible.

The questions concerning enrollment status, degree program and total years in college are optional and are designed to evaluate whether the total debt is excessive. The total years in college should include the total number of years in college so far (or projected) corresponding to the loan balance, including previous degrees received.


How do I Calculate Mortgage Payments in Excel, Home Guides, SF Gate, calculate car payments.#Calculate #car #payments


How do I Calculate Mortgage Payments in Excel?

When you take out a fixed-rate mortgage to buy or refinance a home, your lender takes three numbers and plugs them into a formula to calculate your monthly payment. Those three numbers are your principal, or the amount of money you re borrowing; your interest rate; and the number of months in your loan term. You can quickly create a spreadsheet in Microsoft Excel to perform the calculation for you–and, in the process, gain a greater understanding of just how a mortgage loan works.

Launch Microsoft Excel. Open a new workbook by pressing “Ctrl” and “N.”

Type “Principal” into cell A1 on the Excel worksheet. Type “Rate” into cell A2. Type “Months” into cell A3.

Enter the amount of the mortgage principal in cell B1.

Enter the interest rate in cell B2. Just enter the number; don’t use the percent sign. So, if your rate is 7 percent, just enter 7. If it’s 5.75 percent, enter 5.75.

Enter the number of months in the loan term in cell B3. Most mortgages are for either 15 or 30 years. Enter 180 for a 15-year mortgage or 360 for a 30-year loan. If your loan is for some other number of years, simply multiply that number by 12 and enter the result in cell B3.

Enter the following formula in cell A4, beginning with the “equals” sign: =B2/1200 This converts your annual interest rate to a decimal figure by dividing it by 100, then breaks it down into a monthly rate by dividing it by 12.

Enter the following formula in cell A5, beginning with the “equals” sign: =(1+A4)^B3 This step takes into account the compounding of the interest over the life of the loan.

Enter the following formula in cell A6, beginning with the “equals” sign: =(A4*A5)/(A5-1) This takes all the data and boils it down to a multiplier that’s applied to your principal to determine your monthly payment.

Enter the following formula in cell A7, beginning with the “equals” sign: =A6*B1 This applies the multiplier to your loan principal.

Right-click on cell A7 and select “Format Cells.” Set the formatting to “Currency.” Set “Decimal Places” to 2. Set the “Currency Symbol” to the dollar sign. Click “OK.” This cell now gives you the amount of your mortgage payment based on your principal, interest rate and loan term.

Things You Will Need

  • Microsoft Excel
  • Experiment with different principal amounts, interest rates and loan terms just by changing the values in cells B1, B2 and B3. The total payment in cell A7 will change to reflect the new figures.

Warning

  • Most lenders require that you pay your property taxes and homeowners’ insurance premiums on a monthly basis, with 1/12 of the total tacked on to each mortgage payment. Those amounts are not included in this calculation. The result in cell A7 includes only the amount that goes to your lender–the total principal and interest due each month.

References (2)

About the Author

Calculate car payments

Cam Merritt is a writer and editor specializing in business, personal finance and home design. He has contributed to USA Today, The Des Moines Register and Better Homes and Gardens publications. Merritt has a journalism degree from Drake University and is pursuing an MBA from the University of Iowa.


Student Loan Calculators – Calculate Your Student Loan Payments, Student Loan Hero, student loan payments.#Student #loan #payments


Student Loan Calculators

Use the student loan calculators below to calculate and compare multiple repayment options.

What are you interested in calculating?

Prepayment Calculator

  • Calculating savings from making extra payments
  • Paying off student loans by a certain date
  • Private and federal loans

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Refinancing Calculator

  • Lowering interest rates
  • Lowering monthly payments
  • Private and federal loans

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Consolidation vs. Refinancing Calculator

  • Comparing repayment options
  • Lowering interest rates
  • Federal loans

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Income-Based Repayment (IBR) Calculator

  • Lowering monthly payments
  • Getting student loan forgiveness
  • Federal loans

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Income-Contingent Repayment (ICR) Calculator

  • Lowering monthly payments
  • Parent PLUS borrowers
  • Federal loans

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Pay As You Earn (PAYE) Calculator

  • Lowering monthly payments
  • Getting student loan forgiveness
  • Federal loans

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Revised Pay As Your Earn (REPAYE) Calculator

  • Lowering monthly payments
  • Getting student loan forgiveness
  • Federal loans

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Monthly Payment Calculator

  • Estimating monthly payments
  • Calculating total interest charges
  • Federal and private loans

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Student Loan Interest Calculator

  • Seeing how much interest you’re paying a month
  • Finding out about ways to lower your interest rate
  • Private and federal loans

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Student Loan Comparison Calculator

  • Comparing loan interest rates and terms
  • Lowering monthly payments
  • Federal and private loans

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Deferment Calculator

  • Pausing payments
  • Calculating interest accrued in deferment
  • Federal loans

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Public Service Loan Forgiveness Calculator

  • Getting student loan forgiveness
  • Finding the best income-driven repayment plan
  • Federal loans

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Interest Deduction Calculator

  • Estimating tax deductions from student loans
  • Checking interest deduction eligibility
  • Federal and private loans

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Weighted Average Interest Rate Calculator

  • Calculating Direct Consolidation Loan interest rates
  • Federal and private loans

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Debt-to-Income (DTI) Calculator

  • Calculating debt relative to income
  • Evaluating loan eligibility
  • Various loan types

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Lump Sum Extra Payment Calculator

  • Estimating savings by making one-time extra payments
  • Paying off student loans early
  • Private and federal loans

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Simple Savings Calculator

  • Calculating future savings
  • Estimating return on investments
  • Calculating impact of compound interest

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Credit Card Consolidation Calculator

  • Estimating savings from consolidating with a personal loan
  • Paying off debt in fixed number of payments/years

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Personal Loan Calculator

  • Estimating monthly payments
  • Calculating interest
  • Testing repayment terms

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Investment Calculator

  • Estimating growth of retirement savings
  • Testing impacting of investment contributions over time

View Calculator

Mortgage Calculator

  • Calculating mortgage payments
  • Comparing rates for purchase and refinancing
  • Estimate savings from refinancing

View Calculator

Student Loan Hero

Student Loan Hero, Inc. is helping 200,000+ borrowers manage and eliminate over $3.5 billion dollars in student loan debt. We’re on a mission to help 44 million Americans manage their student loans smarter.

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Student Loan Hero, Inc. is helping 200,000+ borrowers manage and eliminate over $3.5 billion dollars in student loan debt. We’re on a mission to help 44 million Americans manage their student loans smarter.

Disclaimers: Product name, logo, brands, and other trademarks featured or referred to within Student Loan Hero are the property of their respective trademark holders. Information obtained via Student Loan Hero is for educational purposes only. Please consult a licensed financial professional before making any financial decisions. This site may be compensated through third party advertisers. This site is not endorsed or affiliated with the U.S. Department of Education.

© Copyright 2012-2017 Student Loan Hero™, Inc., All Rights Reserved. – Legal – Privacy – Security


CREDIT CARDS and LOANS for BAD CREDIT, bad credit loans monthly payments.#Bad #credit #loans #monthly #payments


Loans and Credit Cards for Bad Credit

Welcome! Since 2005, we have been dedicated to helping those with a bad credit rating rebuild their credit. We provide you with the knowledge and resources necessary for you to find the best loans and credit cards for bad credit, regardless if you have a poor credit score or past credit problems. We continously update our offers to bring you the best bad credit offers available.

If you are looking for the right offer to fit your financial needs or repair bad credit, please begin by choosing a category of offers below:

Compare the top 10 credit cards for those with bad credit and apply online instantly.

Compare auto lenders that approve people with a poor credit score.

Review the best services for debt relief and debt consolidation loans.

Need a cash loan to pay bills, take a vacation, or start a business? Apply now.

Compare options to repair your bad credit history and improve your rating.

Get a new home loan now at a great rate regardless of your past credit history.

Tips and Advice

► 5 Steps to Rebuilding Bad Credit

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► Credit Crunch Shrinking Size of Personal Loans

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► Inside the Brain of an Auto Lender

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► Filing for Bankruptcy: Chapter 7 vs. Chapter 13

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► Which Type of Home Loan is Right for You?

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► Too Much Debt? How to Break the Debt Cycle

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Use our financial calculators to finesse your monthly budget, compare borrowing costs and plan for your future.

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Our tools, rates and advice help no matter where you are on life’s financial journey.

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Car Loan EMI Calculator India – Calculate Auto Loan Monthly Payments, calculate car payments.#Calculate #car #payments


EMI Calculator

Auto Loan EMI Calculator

Nowadays, owning a car is no longer seen as a luxurious commodity, rather it has become a necessity. If you have plans to purchase your dream car, it is not important to burn a hole in your pocket in the process. Instead, you can go for the option of having a car loan. The best part of having a car loan is that with the help of reasonable EMIs you get to pay back the loan.

Are you confused about the whole concept of EMI and the interest you have to pay? You don’t need to and let Car Loan EMI Calculator handle this. Read on, to know more about the EMI Calculator for a car loan and various other related things.

Car Loan EMI calculator

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What you should know about Car Loan Monthly Payment Calculator ?

An EMI loan calculator will help you out in making a right decision for the car model and the monthly budget. So, here are the key factors that you should know about this Loan EMI Calculator –

  • EMI calculator for Car Loan is one of the helpful tools that will make you familiar with the existing and the future monthly amount paid as installments. You can have a Car Loan EMI Calculator from the banks and financial entities.
  • While using an EMI Car loan Calculator, there is a need to enter certain details such as repayment term, loan amount, and the interest rate. With the help of this calculator, you can easily get familiar with the monthly installments and amortization schedule.
  • For using an EMI Calculator for auto Loan, you can enter the processing fee as well. The same fee also gets added to your loan amount to show the total expense incurred.
  • This Car Loans EMI Calculator online will also assist you with the amortization plan, interest outgo, and timeline of the loan repayment. Such information will make you aware of all the important information that helps you make smart decisions.
  • An EMI Calculator also comes handy in planning your monthly budget. This will really help in making the EMI more affordable.

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How Does Online Car Loan EMI Calculator work?

First and foremost, the compound interest on the principal loan amount at the set interest rate gets calculated by this EMI Calculator. The calculation is done as per the following rule – paying the interest part first, the total amount payable, and the part that outstanding of your EMI is the principal. EMI is computed using the following emi calculation formula –

Monthly Installment Amount = [P x R X (1 + R) ^ N] / [ (1 + R) ^N 1]

In the formula, P is the principal amount; N signifies the number of monthly installments, and R is the rate of interest every month. Let us assume the interest rate per annum at 12%, the interest rate each month will be 12/ (12 100).

How can you simplify your car loan with an EMI Calculator?

When you want to have the best information about making a right choice for a loan or about the repayments, this Calculator will do all the things for you. Following are some of the main things that get simplified when you use this Calculator for car loan.

  • Being intuitive and easy to use are its key elements. The main idea behind designing the calculator is to make your calculation task easier. All you need is to enter the values and use the sliders and you will have the instant projections on EMI and amortization schedule.
  • Using this Calculator is as simple as using a standard calculator. You don’t need to have special expertise to use this calculator.
  • With the help of the Calculator, you will have the amortization schedule and above all the breakup of the payable amount in a graphic format makes the things easier to understand and interpret.
  • You can use this Calculator number of times until the time you have the right combination of term, affordable EMI, and the principal.
  • With the help of a online EMI Calculator, you get to know which car loan will be beneficial for you. You get to compare the interest rates based on the prepayment penalty, interest rates, and processing fee to check its effects on the EMI.
  • You don’t have to pay anything and you will get your results instantly.

What are the benefits of using a car loan eligibility calculator?

This online Loan Calculator for determining car loan payments is a handy tool that will help you make smart loan decisions. Let us discuss the benefits of this Calculator –

Reiterate Calculations –

Using this EMI Calculator for Car Loan, you can keep on varying the values till the time you have the right EMI value that suits you best. Using this calculator, you can also experiment with the interest rates and term of the car loan; you also get to know all these elements can affect your EMI.

Immediate Results –

One of the best things is that you get instant results when you calculate your EMI using Car Loan Calculator. You can also use this calculator before taking a final decision on taking a car loan, when you are finally paying off your loan, and while you are making plans for car loan repayments.

Logical evaluation of car loans –

With the help of this EMI calculator, you can easily compare the best car loans on the basis of key elements like – interest rate and EMI. You may feel that the interest rates are all same but using Car Loan Calculator, you will get a better idea of the interest rates that can prove beneficial to you.

Accurate –

With the help of online Car Loan Calculator, you get to save your efforts on calculating complicated compound interest. If you are planning to do manual calculations, you are bound to make mistakes. If you enter all the details in a Car Loan EMI online calculator, your task gets done in minutes. Having an intuitive interface, the Calculator can be used by anyone.

How to qualify for a car loan?

Well, you don’t need to worry as the process of auto loan approval is simpler as compared to the house loan. For your bank and the lenders, your credit history and income really plays a pivotal role. Basically, they are interested in knowing whether you will be able to repay the loan amount or not. Following are the things that a lender or your bank will consider –

Credit Score –

Your bank and lenders will show more interest in knowing your status regarding your credit health and even want to know your history. They are usually looking for a credit score i.e. more than 750. Basically, it is the first step and on the basis of your credit score, they will move on to the next step.

But, if your score is below 750, your application will not be considered for the car loan. For lenders or your bank having a credit score below 750 is a clear signal that you are not capable of managing your credit responsibly. So, if you don’t want to face a rejection, make sure you have a healthy credit score.

Employment Profile –

Your bank and your lenders will also show interest in knowing your employment status i.e. whether you have a stable employment or not. This will ensure them whether you are in a position to repay the loan amount. They are not sure if you have s stable employment where you can easily make the EMI monthly payments for a car loan. They check whether you have worked with an employer for a minimum of one year when you apply for the car loan.

Credit Report –

Just like your credit score shows the status of your credit health, your credit report shows your credit behavior. Even your current score is healthy, your bank can cross-check your credit report to have a look at your past payment history.

Existing EMI payments –

If your existing EMI liabilities is forming a high percentage of your income, your bank will have an idea that you are not in a position to maintain additional debt payments. If your total monthly EMI is over 50%-60% of your income, your lender will get skeptical about repaying the additional car loan. You have more chances of your loan application getting rejected.

Therefore, when you have decided to apply for the car loan, ensure that your EMI outflow is not more than your income percentage. Just in case it is high, make sure you pay off the smaller loans in order to bring down your overall EMI. This will help in freeing up some part of your income so that you can repay your car loan.

Besides Car Loan EMI Calculator, you also have easy access to various other EMI calculators like Home Loan EMI Calculator, Bike Loan EMI Calculator, and Personal Loan EMI Calculator.


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to 14.24% APR (with AutoPay) 5 .

Checking your rate will not affect your credit score .

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Are you paying more than 10% interest on your credit cards? SoFi Personal Loans could help you save thousands. With low personal loan interest rates and a fixed monthly payment, you can get loans to pay off credit cards, pay off high interest debt, or make a major purchase. It only takes minutes to apply.

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Get a 0.125% rate discount ✝✝ on an additional SoFi loan—just for being a member.

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Borrowers raised their credit scores by 17 points on average when they paid off credit card debt ** .

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Terms and Conditions Apply. SOFI RESERVES THE RIGHT TO MODIFY OR DISCONTINUE PRODUCTS AND BENEFITS AT ANY TIME WITHOUT NOTICE. To qualify, a borrower must be a U.S. citizen or permanent resident in an eligible state and meet SoFi’s underwriting requirements. Not all borrowers receive the lowest rate. To qualify for the lowest rate, you must have a responsible financial history and meet other conditions. If approved, your actual rate will be within the range of rates listed above and will depend on a variety of factors, including term of loan, a responsible financial history, years of experience, income and other factors. Rates and Terms are subject to change at anytime without notice and are subject to state restrictions. SoFi refinance loans are private loans and do not have the same repayment options that the federal loan program offers such as Income Based Repayment or Income Contingent Repayment or PAYE. Licensed by the Department of Business Oversight under the California Financing Law License No. 6054612. SoFi loans are originated by SoFi Lending Corp., NMLS # 1121636. (www.nmlsconsumeraccess.org)

To check the rates and terms you qualify for, SoFi conducts a soft credit pull that will not affect your credit score. However, if you choose a product and continue your application, we will request your full credit report from one or more consumer reporting agencies, which is considered a hard credit pull and may affect your credit.

As an example, on a loan of $10,000 paid back over a 5 year term with the lowest available interest rate of 6.95% (including 0.25% AutoPay discount), you will make 60 monthly payments of $197.78, and the total amount repayable will be $11,866.57. See additional payment examples here.


FinAid, Calculators, Loan Calculator, loans with monthly payments.#Loans #with #monthly #payments


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Loans with monthly payments

This Loan Payment Calculator computes an estimate of the size of your monthly loan payments and the annual salary required to manage them without too much financial difficulty. This loan calculator can be used with Federal education loans (Stafford, Perkins and PLUS) and most private student loans. (This student loan calculator can also be used as an auto loan calculator or to calculate your mortgage payments.)

This loan calculator assumes that the interest rate remains constant throughout the life of the loan. The Federal Stafford Loan has a fixed interest rate of 6.8% and the Federal PLUS loan has a fixed rate of 7.9%. (Perkins loans have a fixed interest rate of 5%.)

This loan calculator also assumes that the loan will be repaid in equal monthly installments through standard loan amortization (i.e., standard or extended loan repayment). The results will not be accurate for some of the alternate repayment plans, such as graduated repayment and income contingent repayment.

Loan fees are used to adjust the initial loan balance so that the borrower nets the same amount after the fees are deducted.

Some educational loans have a minimum monthly payment. Please enter the appropriate figure ($50 for Stafford Loans, $40 for Perkins Loans and $50 for PLUS Loans) in the minimum payment field. Enter a higher figure to see how much money you can save by paying off your debt faster. It will also show you how long it will take to pay off the loan at the higher monthly payment. You can also calculate private student loan eligibility on comparison sites like Credible.

The questions concerning enrollment status, degree program and total years in college are optional and are designed to evaluate whether the total debt is excessive. The total years in college should include the total number of years in college so far (or projected) corresponding to the loan balance, including previous degrees received.


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  2. Tax Topics
  3. Topic No. 456 Student Loan Interest Deduction

Topic Number: 456 – Student Loan Interest Deduction

Student loan interest is interest you paid during the year on a qualified student loan. It includes both required and voluntarily pre-paid interest payments. You may deduct the lesser of $2,500 or the amount of interest you actually paid during the year. The deduction is gradually reduced and eventually eliminated by phaseout when your modified adjusted gross income (MAGI) amount reaches the annual limit for your filing status.

You claim this deduction as an adjustment to income, so you don’t need to itemize your deductions on Form 1040, Schedule A (PDF), Itemized Deductions.

You can claim the deduction if all of the following apply:

  • You paid interest on a qualified student loan in tax year 2016;
  • You’re legally obligated to pay interest on a qualified student loan;
  • Your filing status isn’t married filing separately;
  • Your MAGI is less than a specified amount which is set annually; and
  • You or your spouse, if filing jointly, can’t be claimed as dependents on someone else’s return.

A qualified student loan is a loan you took out solely to pay qualified higher education expenses that were:

  • For you, your spouse, or a person who was your dependent when you took out the loan;
  • For education provided during an academic period for an eligible student; and
  • Paid or incurred within a reasonable period of time before or after you took out the loan.

See Publication 970, Tax Benefits for Education, and the Form 1040 (PDF) to determine if your expenses qualify.

If you file a Form 2555 (PDF), Foreign Earned Income, Form 2555-EZ (PDF), Foreign Earned Income Exclusion, or Form 4563 (PDF), Exclusion of Income for Bona Fide Residents of American Samoa, or if you exclude income from sources inside Puerto Rico, refer to Worksheet 4-1, Student Loan Interest Deduction Worksheet in Publication 970, instead of the worksheet in the Form 1040 Instructions.

If you paid $600 or more of interest on a qualified student loan during the year, you’ll receive a Form 1098-E (PDF), Student Loan Interest Statement, from the entity to which you paid the student loan interest.

For more information about the student loan interest deduction and how your MAGI affects the deduction amount, refer to Publication 970, and Can I Claim a Deduction for Student Loan Interest?