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What kind of taxes are charged on the principal of student loans?

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βˆ™ 2013-03-13 21:19:53

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There are no taxes on the principal of any loan, student or otherwise.

In fact, there are no taxes on the payor of interest on a loan, student or otherwise. (The receipient of interest has taxable income of the amount earned).

The interest paid on a loan secured by ones residence, are generally, deductible (the opposite of paying taxes)..

2013-03-13 21:19:53
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