IRS Logo
 
Print

Education & Work-Related Expenses

Question: What are the limits for deducting interest paid on a student loan?

Answer:

The maximum deductible interest on a qualified student loan is $2,500 per return.

There is no deduction if any one of the following is true:

  • You file as married filing separately,
  • You are claimed as an exemption on someone else’s return,
  • The loan is from a related party or a qualified employer plan,
  • You are not legally obligated to pay interest on a qualified student loan, or
  • You did not pay interest on a qualified student loan.

There are limits based on your filing status and adjusted gross income.

Additional Information:


Category: Itemized Deductions, Standard Deductions
Subcategory: Education & Work Related Expenses

Please provide your feedback.

1. Was it easy to find your information within the above Frequently Asked Question?

2. How satisfied are you with the information provided within the above Frequently Asked Question?

3. If you still need help from the IRS, what would your next step be?




The OMB number for this study is 1545-1432.
If you have any comments regarding this study, please write to:
IRS, Tax Products Coordinating Committee
SE:W:CAR:MP:T:T:SP
1111 Constitution Avenue NW
Washington, DC 20224