College Loans and Taxes

[Lmn55d]

I apologize in advance if this question is pretty dumb, but I know less about taxes than I do about the Etoro tribe of Papua New Guinea.

I'm about to graduate this year from a very expensive university with a large amount of student loans. Fortunately, I have made a good amount of money playing online poker during the last year or so and was planning on using this to pay off my loans before I graduate.

Unfortunately, the ridiculous amount of taxes I will apparently have to pay on my winnings will put a dent in these plans. What I am wondering is if there is any way to get some sort of tax break on winnings I use to pay off student loans. I know there are a lot of other college players on these boards who are in the same boat and am hoping someone has some advice.

Thanks.

EDIT: Oh, one other things that kind of sucks. When I report my taxes I'm gonna have to report my poker income to my university and will get a lot less financial aid next semester [img]/images/graemlins/frown.gif[/img] . Any advice on this dilemna?