What is the mn student loan credit?

The Minnesota Student Loan Tax Credit is a nonrefundable credit for payments of principal and interest on eligible higher education loans. Individuals with one or more qualified education loans may claim the credit to reduce their Minnesota income tax liability by up to $500.

(d) In the case of a married couple, each spouse is eligible for the credit in this section. History: c 1 art 1 s 24. Official Publication of the State of Minnesota

Student Loan Credit Available for Minnesota Residents Minnesotans who make payments on their postsecondary education loans may qualify for a

Student Loan Credit · You are a full-year or part-year Minnesota resident · You make payments on your own qualifying education loans during the

What is a "qualified student loan"? · The expenses relate to a specific academic period, and · The loan proceeds are disbursed within a period that begins 90 days

Student Loan Interest Deduction: A $. See the Minnesota Department

. Taxpayers may deduct interest paid on student loans from federal adjusted gross income. This deduction is not limited to taxpayers who claim