Lets student loan borrowers deduct more of their payments, including principal, from their taxes.
This bill would let people with student loans deduct more of what they pay each year from their taxes. It would allow them to deduct both the interest and the principal they pay, not just the interest. This could mean a bigger tax break for many, especially those with higher incomes or dependents.
Today, you can deduct only the interest paid on qualified student loans, with a maximum deduction and income limits that reduce the benefit for higher earners. After this bill, you would be able to deduct both principal and interest payments on qualified student loans. The maximum deduction would increase to $10,000, plus $500 per dependent. The income limits for the deduction would also rise to $125,000 for individuals and $250,000 for joint filers, allowing more people to benefit. These changes would apply to tax years starting after December 31, 2025.
HR 7536 · 119th Congress · February 12, 2026 · AI Summary by gemini-2.5-flash · 8/10
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3 filings mentioned this bill
Amounts reflect total quarterly lobbying spend reported to the Senate, not bill-specific spending. Source: Senate LDA filings.