Tax Credits for Students

Yes there is a student loan tax deduction up to $2500 off of your interest payments.  Tax form 1098E is the form to use.

There are also other tax credits available for students.

One is the American Opportunity Tax Credit which gives you $2500 if you are enrolled half time or more and studying towards a degree.

The other is the Lifetime Learning Tax Credit that has a credit of $2000 and you only need to take one course a year.

If you are a college student or about to become one, you should read more about student tax credits.