Because interest is usually tax deductible and payments are deferred until you graduate, it is good advice to take out the maximum student loan for which you can qualify.

Question

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While interest on student loans may be tax deductible and payments can be deferred, taking out the maximum loan can lead to excessive debt. It's important to only borrow what you need to cover your education costs to avoid financial strain in the future.

Because Interest Is Usually Tax Deductible and Payments Are Deferred