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April 15, 2025
Question

Can I deduct interest on student loans I paid for my adult children?

  • April 15, 2025
  • 2 replies
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I am still helping my 35 year old daughter pay her student loans.

2 replies

Employee
April 15, 2025

Did you co-sign?   If you are legally obligated on the loan you can deduct the interest you paid.  If you did not co-sign, sorry, you cannot use the interest.

**Disclaimer: Every effort has been made to offer the most correct information possible. The poster disclaims any legal responsibility for the accuracy of the information that is contained in this post.**
April 15, 2025

Mabye, if you are a co-signer on the loan.  if you are legal obligated to pay the loan and otherwise qualify you may be able to deduct the interest, but there are income limits.

 

For 2024, if you file Married Filing Jointly:

 

  • You can deduct up to $2,500  of student loan interest if your modified adjusted gross income (AGI) is $165,000 or less.
  • Your student loan deduction reduced if your modified AGI is more than $165,000 and less than $195,000.
  • You deduction is completely phased out when your modified AGI is $195,000 or more.

For 2024 if you file Single, Head of Household, or Qualified Surviving Spouse:

 

  • You can deduct up to $2,500 of student loan interest if your modified AGI is $80,000 or less.
  • Your deduction is reduced if your modified AGI is between $80,000 and $95,000.
  • You deduction is completely phased out when your modified AGI is $95,000 or more.
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