What are the 2026 student loan interest MAGI limits?

For 2026 (Rev. Proc. 2025-32 §4.29): single, head of household, and qualifying surviving spouse phase out between $85,000 and $100,000 of MAGI; married filing jointly phases out between $175,000 and $205,000. The single band is unchanged from 2025 while the joint band was indexed up.

Can I claim it if I file married filing separately?

No. IRC §221 denies the deduction entirely to taxpayers who file married filing separately, regardless of income or how much interest was paid.

Can I claim it if my parents claim me as a dependent?

No. If you can be claimed as a dependent on someone else's return, you cannot take the deduction — and neither can they unless they are legally obligated on the loan and actually paid the interest.

Where do I find the interest I paid?

Box 1 of Form 1098-E from your loan servicer. Servicers must issue one if you paid $600 or more; if you paid less, ask the servicer or check your online account, since the interest is still deductible.

Education · IRC §221 · Schedule 1

Student Loan Interest Deduction Calculator (2025 & 2026)

Up to $2,500 of student loan interest is deductible above the line — no itemizing required. This tool applies the exact MAGI phase-out for the year you pick, plus the two hard bars: married filing separately and being claimable as a dependent.

IRS-Sourced

Updated August 24, 2026Reviewed for 2025 & 2026 tax yearsIRS-sourced

How much student loan interest can I deduct?

At $70,000 of MAGI filing as single in 2026, your deduction is $2,500 of the $2,500 allowable interest. The phase-out band runs $85,000 to $100,000.

$2,500 maximum per return, above the line on Schedule 1
2026 single / HOH / QSS band: $85,000 – $100,000
2026 married filing jointly band: $175,000 – $205,000
Married filing separately: no deduction
Claimable as a dependent: no deduction

Source:IRC §221 / IRS Publication 970 / Rev. Proc. 2025-32

Tax Year

Inflation-adjusted

2026 raises only the joint band; the single band is unchanged from 2025.

Your situation

Filing status

Student loan interest paid (Form 1098-E box 1)

Count only interest on a qualified student loan you are legally obligated to repay: a loan taken out only to pay qualified education expenses for you, your spouse or your dependent while enrolled at least half-time in a degree program, and not from a related person (such as a parent or grandparent) or a qualified employer plan.

Modified AGI

Someone else can claim me as a dependent

Marginal tax rate

The savings figure needs your marginal ordinary rate. MAGI alone cannot tell us the rate, so pick the bracket your last dollar of income falls in.

Not sure? Find your bracket →

Your deduction

2026 student loan interest deduction

$2,500

Interest paid, capped at $2,500$2,500

Phase-out band$85,000 – $100,000

Phased out by0.0%

Estimated tax savings at 22%$550

Reported on Schedule 1, Part II. It is an above-the-line adjustment, so it reduces AGI itself — which can help other AGI-tested benefits.

Verified phase-out thresholds

Student loan interest deduction MAGI phase-out bands by year and filing status
Tax year	Single / HOH / QSS	Married filing jointly	Source
2025	$85,000 – $100,000	$170,000 – $200,000	Rev. Proc. 2024-40
2026	$85,000 – $100,000 (unchanged)	$175,000 – $205,000	Rev. Proc. 2025-32 §4.29

The asymmetry is correct as published: the single band was not indexed for 2026 while the joint band was. Married filing separately gets no deduction in either year, and the maximum stays at $2,500.

Frequently asked questions

How much student loan interest can I deduct?: Up to $2,500 of qualified student loan interest per return, taken above the line on Schedule 1 — you do not have to itemize. The amount phases out linearly across a MAGI band and reaches zero at the top of that band (IRC §221).
What are the 2026 student loan interest MAGI limits?: For 2026 (Rev. Proc. 2025-32 §4.29): single, head of household, and qualifying surviving spouse phase out between $85,000 and $100,000 of MAGI; married filing jointly phases out between $175,000 and $205,000. The single band is unchanged from 2025 while the joint band was indexed up.
Can I claim it if I file married filing separately?: No. IRC §221 denies the deduction entirely to taxpayers who file married filing separately, regardless of income or how much interest was paid.
Can I claim it if my parents claim me as a dependent?: No. If you can be claimed as a dependent on someone else's return, you cannot take the deduction — and neither can they unless they are legally obligated on the loan and actually paid the interest.
Where do I find the interest I paid?: Box 1 of Form 1098-E from your loan servicer. Servicers must issue one if you paid $600 or more; if you paid less, ask the servicer or check your online account, since the interest is still deductible.

Related tools & guides

MAGI Cheat Sheet — which MAGI applies where →Student Loan Forgiveness Tax Calculator →Student Loan Taxes in 2026 →Education Tax Credits: AOTC vs LLC →

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Sources & References

Primary references used for this content

Publication 970

Tax Benefits for Education — Student Loan Interest Deduction

Chapter 4: the $2,500 cap, MAGI definition, and the MFS and dependent bars

View on irs.gov

Topic No. 456

Student Loan Interest Deduction

The IRS summary of who qualifies and what counts as qualified interest

View on irs.gov

Rev. Proc. 2024-40

2025 Inflation Adjustments

Official 2025 §221 phase-out thresholds

View on irs.gov

Rev. Proc. 2025-32

2026 Inflation Adjustments (§4.29)

Official 2026 §221 phase-out thresholds

View on irs.gov

✓4 primary sources; links re-checked on a weekly rotation by the source watcher

Disclaimer: This calculator provides estimates for educational purposes only. Not tax, legal, or financial advice. Results may vary based on your specific circumstances. Consult a qualified CPA or tax professional for personalized guidance.