Student Loan Interest Deduction
TaxesAn above-the-line deduction of up to $2,500 in student loan interest paid, available regardless of whether you itemize.
Example
Example: On a $75,000 salary, understanding student loan interest deduction could save you hundreds or thousands at tax time. For instance, if you are in the 22% marginal bracket, knowing how student loan interest deduction works helps you make smarter decisions about deductions, credits, and withholding. Check your tax picture with our income tax calculator.