Yes, up to $2,500 of student loan interest per year is tax deductible. However, you must meet all the qualifications.

What qualifies as a deductible student loan

  • The interest you paid must be on a qualified student loan. (This does not mean that you must have a federal student loan to qualify, but you must have used the loan for qualified education expenses, like tuition or books.)
  • Your filing status is single or married filing jointly. You do not qualify if you’re married filing separately. Nor do you qualify if you’re filing jointly, and you or your spouse is claimed as a dependent on another taxpayer’s return.
  • Your MAGI (modified adjusted gross income) is within the limits set each year by the IRS.

For single filers….

If your MAGI is…

You may qualify for a…

$84,999 or less

Full student loan interest deduction

$85,000 - $100,000

Partial student loan interest deduction

If your MAGI exceeds the $100,000 limit, you do not qualify for the student loan interest deduction.

For married filing jointly…

If your MAGI is…

You may qualify for a…

$169,999 or less

Full student loan interest deduction

$170,000 - $200,000

Partial student loan interest deduction

If your MAGI exceeds the $200,000 limit, you do not qualify for the student loan interest deduction.

Have questions or concerns? Need help determining if you qualify for the student loan interest deduction or calculating your partial deduction? Our Tax Pros are here all year and ready to help. Book your appointment today.

Sharon Brucker, CPA Senior Tax Research Analyst Published on: August 07, 2025
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*This content is for general informational purposes only. It is not intended to be comprehensive and should not be construed as professional tax or financial advice for any specific individual tax situation. Taxpayers should always consult a qualified professional for individual guidance. This information constitutes a solicitation under the Treasury Department's Circular 230. Most offices are independently owned and operated.