Daughter: Thanks again for helping me with my taxes.
Dad: Of course.
Daughter: But I was wondering about that Student Loan interest thing. Why didn't I get all the interest back?
Dad: Because they only give you a portion of it, not all of it.
Daughter: And why didn't I get the whole portion?
Dad: Because it's not an actual refund. It just lowers the amount of income that you have to pay taxes on.
Daughter: So, I wouldn't gave gotten anything back if I hadn't paid my school loans?
Dad: Hold on, let me calculate ... [pulls out phone, looks up tax schedules] OK, just roughing it here, looks like this: IF you had not made any student loan payments, you would have owed $12 in taxes, but since you DID pay student loans, that got you to a point where the government gave you BACK $450.
Daughter: That's pretty cool.
Dad: So whenever you hear anything blathering on about how mean government is, just remember that there are things that government does to try to cut you a break.