Student Loan Interest Deduction – How to Qualify and Claim It
Don’t Miss This Simple Way to Reduce Your Tax Bill
If you’re paying back student loans, you may be eligible to deduct up to $2,500 in interest paid during the year.
💡 Who Qualifies?
You paid interest on a qualified student loan
Your Modified Adjusted Gross Income (MAGI) is:
Below $90,000 (single)
Below $180,000 (married filing jointly)
You are not claimed as a dependent on someone else’s return
📄 How to Claim It
Use Form 1098-E, provided by your loan servicer
Deduct directly on Schedule 1 of your tax return (no itemizing required)
Pro Tip: Even if you paid just a little interest, it adds up—and reduces your taxable income, not just your tax liability.
