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Educational Loan Interest
Interest paid on a loan taken out to pay for educational expenses. This interest can sometimes be deducted from taxable income.
Qualified Education Loans
These are loans obtained solely to pay for educational expenses that are qualified and necessary, including tuition, room, board, and books.
Deduction
An amount that is subtracted from an individual's gross income, decreasing the amount of taxable income.
AGI Deduction
Deductions from gross income that occur before calculating the taxable income, specifically affecting the adjusted gross income on a tax return.
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