Tax Deductions for Interest Paid on Educational Loans

Program Purpose

To reduce the cost of education loans for borrowers during repayment.

Eligibility Requirements

  • Meet the IRS requirements.

Award Amount

The maximum limit for interest deductions is $2,500 or the amount of the interest you actually paid on qualified educational loans during the tax year.

Application Process

Refer to instructions provided on your tax forms for information on specific requirements for claiming this deduction.

Additional Information

Copyright © 2024 Texas Higher Education Coordinating Board. All Rights Reserved

Site Policies | Site Map | Contact


Apply Texas

I am ready to start my college journey, now what? ApplyTexas is a one-stop shop for applying to a public university or community college in Texas. Start now at Help us understand how applicants can be better supported throughout the application process by taking this survey. You can find information about funding your education here: College for All Texans Funding Your Education.