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Deductibility of student-loan interest

Program Information

Popular name

N/A

Program Number

TC.105

Program objective

The baseline tax system accepts current law’s general rule limiting taxpayers’ ability to deduct non-business interest expenses. In contrast, taxpayers may claim an above-the-line deduction of up to $2,500 on interest paid on an education loan. In 2023, the maximum deduction is phased down ratably for taxpayers with modified AGI between $165,000 and $195,000 if married filing jointly ($80,000 and $95,000 for other taxpayers). Married individuals filing separate returns cannot claim the deduction.

Program expenditures, by FY (2023 - 2025)

This chart shows obligations for the program by fiscal year. All data for this chart was provided by the administering agency and sourced from SAM.gov, USASpending.gov, and Treasury.gov.

For more information on each of these data sources, please see the About the data page.

Additional program information

OMB is working with the U.S. Government Accountability Office (GAO) and agency offices of inspectors general to include links to relevant oversight reports. This section will be updated once this information is made available.

Program details

Program types