Undergraduate student loan interest versus graduate student loan interest

[jake-isbrandtsen]

Does it matter if interest on a loan is undergraduate versus graduate?

[ThomasM · Accepted solution]

No, it does not matter.  The deduction is available for both undergraduate and graduate student loans.

Here is a link to IRS Publication 970 which has a section (page 29) on the Student Loan Deduction and covers all its aspects: https://www.irs.gov/pub/irs-pdf/p970.pdf.

The deduction is limited to $2500 of interest paid, and there are adjusted gross income phase-out ranges depending on filing status.