Skip to main content
index page

Can I claim student loan garnishments on my taxes?

Submitted by on Wed, 01/09/2013 - 08:45
Posts: 202330

Hi, to all I just have a question.  Anyone who thinks they have an idea, fell free to answer.   My wages are and have been garnished since 2009 now.  For failure to pay my student loans............completely my fault I'm not making excuses.  Hindsite is 20/20 is all I have to say.    2009, 2010, 2011, and 2012 I have been garnished over 5,000 each year...........and each year, I file and I get my tax refund (cross my fingers this year)  My question is can I and should I have been claiming the money garnished on my taxes?

Thanks Soaplady

Submitted by on Wed, 01/09/2013 - 08:54

( Posts: 202330 | Credits: )

You can only claim the interest paid in that calender year.  Keep in mind when you are garnished or make any payment on a defaulted student loan, your payment goes to collection fees first, then interest and finally principal.  Your lender (guarantor) should send you a 1098 automatically from your guarantor if you  paid over $600 in interest.

Submitted by SOAPLADY on Wed, 01/09/2013 - 08:53


( Posts: 17315 | Credits: )