<prompt> Human: 2016 was my first year paying off my student loans so I am brand new to the tax aspect. Im still not clear exactly what purpose claiming them serves. Aside from the question in the title, is there anything else I should be aware of? Background: I have 27,000 in federal education loans, 19,000 for Parent PLUS, 0 credit card debt, and 6,000 left on my car.  <response>: I mean you cant claim it so theres nothing to miss out on. You dont have a choice. 