Does excess student loan interest paid carry over to the next year?

I see I'm only allowed to deduct $2,500. I have an excess of $7,500 for 2017. Does it carry over to the next year or is it lost?

posted

No, it does not carry over to the next year. In each tax year the limit of how much interest you can deduct for your student loan is $2500. Only the interest is deductible, not the principal paid.

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