Massachusetts S1981 amends tax law to allow deductions for graduate student loan interest.
Massachusetts S1981 amends the state tax law to include graduate student loan interest as a deductible expense. This change means that individuals repaying graduate student loans can now deduct the interest they pay from their taxable income, potentially reducing their tax liability. The bill specifically modifies Section 3 of chapter 62 of the General Laws to include "graduate" alongside "undergraduate" in the relevant tax deduction provisions.
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