Does your employer offer tuition assistance? If so, you may also be entitled to a tax write-off from these loans as well. Eligible expenses often include, books, tuition and fees, as well as supplies and equipment. If you receive more than $5,250 in a year, you must include the excess amount in taxable income. Also, qualified expenses used to justify your employer tuition assistance may not be used toward any other federal education tax benefits. For more information about these benefits, read: Employer-Paid Tuition Assistance.
