You are eligible to deduct student loan interest if you meet the following criteria:
- For the filing year, you paid interest qualifying student loans
- You are required to pay the interest
- You are not filling separately from your spouse if married
- You and/or your spouse cannot be claimed at dependents on another’s return
- You do not exceed the income thresholds (single $85,000, $170,000 married filing jointly)
Be advised that once you meet incomes of $70,000 for single filers and $140,000 for married
filing jointly filers, your deduction amount begins to reduce.