Student Loan Interest Income Limit 2024. For 2024, to take the full $2,500 deduction (assuming that much interest is paid during the year) single filers. Most borrowers had zero interest for most of 2023, but the final part of the.
Having an sai below zero qualifies you for the full pell grant. Can you claim a student loan interest deduction on your taxes in 2024?
However, it’s important to note that the irs has set a maximum limit for the student loan interest deduction.
The sai is similar to the efc and uses financial information from your fafsa to determine aid eligibility.
As such, from september 2023 to august 2024, your student loan would have been set to accrue interest at a rate of up to 13.5%.
The student loan interest deduction helps students who have a lot of debt feel a little better.
