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Student Loan Interest Deduction Calculator for 2026

What is this money worth, or what does it cost, over time?

Deduction up to $2,500 after the 2026 MAGI phase-out, with the status rules and the amount lost to the phase-out.

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  • Nothing stored or sent
  • Free, no sign-up
Your figures
Example figuresIllustrative only. Type over them with your own.
Student loan interest deduction
$1,000
After the 2026 income phase-out
Interest up to the $2,500 maximum
$2,000
Lost to the phase-out
$1,000
Drawn to one scale
Student loan interest deduction$1,000
Interest up to the $2,500 maximum$2,000
Lost to the phase-out$1,000
All results
MeasureResult
Student loan interest deduction$1,000
Interest up to the $2,500 maximum$2,000
Lost to the phase-out$1,000
Share of the deduction allowed50.00%
How this was worked out
Work shownrecomputed as you type
Base = lesser of interest paid and $2,500
Share allowed = 1 - (modified AGI - threshold) / range, between 0 and 1
2026: threshold $85,000, range $15,000 (single); threshold $175,000, range $30,000 (joint)

Illustrative arithmetic on the figures you enter. Check the result against your firm's methodology before relying on it.

The formulas

  • Base = lesser of interest paid and $2,500
  • Share allowed = 1 - (modified AGI - threshold) / range, between 0 and 1
  • 2026: threshold $85,000, range $15,000 (single); threshold $175,000, range $30,000 (joint)

How it works

Section 221 lets you deduct up to $2,500 of interest paid on a qualified education loan. For 2026 the deduction begins to phase out above $85,000 of modified AGI ($175,000 joint) and disappears at $100,000 ($205,000 joint), per Rev. Proc. 2025-32.

Married taxpayers can claim it only by filing a joint return. No deduction is allowed for an amount deductible elsewhere or for a loan whose payments an employer made tax free under section 127.

Illustrative figures only. Check the result against your firm's methodology before relying on it.

Common questions

Which interest counts?

Interest paid during the year on a qualified education loan. This tool computes the amount only.

Do I need the interest statement?

Use the interest actually paid during the year, as reported by your lender.

What is the statutory threshold?

Section 221 states $50,000 and $100,000 before inflation adjustment, and Rev. Proc. 2025-32 gives the 2026 adjusted amounts used here.

Sources

Runs in your browser. The figures you type are not sent to CORAA or stored. Check the result against your firm's methodology before relying on it.

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