Student Loan Interest Deduction Bill
Official: Student Loan Marriage Penalty Elimination Act of 2025
IntroducedMay 8, 2025
Why This Matters
This bill changes how married couples can deduct student loan interest on their taxes, allowing them to do so separately. This could help couples save more money on their tax returns if they both have student loans.
If you are married and have student loans, you could save more on your taxes.
Affects: Married couples with student loans who file their taxes together.
What changes is this bill making?
1. This bill allows married couples to claim student loan interest deductions separately. 2. Each spouse can deduct up to $2,500 of student loan interest from their taxes. 3. The changes apply to tax years starting after December 31, 2024. 4. The bill aims to eliminate the tax penalty that affects married couples with student loans. 5. No double deductions are allowed for the same interest amount.
Who is affected?
Married couples with student loans who file their taxes together.