Unlimited Timeframe for Student Loan Interest Deductions - There's no limit to the number of years you can deduct student loan interest. You have to be eligible, repay a qualified loan, and meet additional requirements! Flexible Eligibility Requirements - Based on income, you may not have qualified for the student loan interest deduction up to $2,500 a year. You cannot claim the principal payment, only the interest. For more specific benefits, we recommend meeting with a tax professional.  DISCLAIMER: Tax information is provided as a general overview. ScholarPoint is not engaged in rendering legal, accounting, tax, or other professional advisory services, and we are not qualified (nor is it our intent) to provide individual tax advice. Consult your tax advisor.