IQ is a comparison of your test results to the results of people your own age. The average IQ is 100. If you gave 1,000 people a really hard test, your results would look like this: The higher the graph goes, the more people who have achieved that score.
Federal Student Loan Interest Deduction. A deduction is allowed for interest paid by the taxpayer, up to an annual maximum of $2,500, for a qualified education loan for both undergraduate and graduate education, subject to taxpayer income limitations. Any federal tax law changes to this deduction will not be automatically adopted.
Story Highlights. 1  Tuition and fees you pay to the college are tax-deductible. 2  Travel to home, room and board, medical expenses are not deductible. 3  There is an income cap on education-related deductions.