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Credit.com: How new tax laws can affect your education plans

According to recent statistics, Americans owe more than $1.48 trillion in student loan debt. That’s $620 billion more than the total amount of U.S. credit card debt. So when the talk of tax reform first began last year, there was a lot of speculation about what the implications might be for educational loans and debt. Specifically, students seeking loans — and the 44 million already paying on student loans — worried that the changes would mean money out of their pockets. That’s because under provisions of the original proposals, things like tax-free tuition waivers and the student loan interest and educational assistance deductions were threatened.

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