Allows married couples to apply the student loan interest deduction separately to each spouse.
The Student Loan Marriage Penalty Elimination Act of 2025 amends the Internal Revenue Code to allow married couples to apply the student loan interest deduction limitation separately to each spouse. This means each spouse can deduct up to $2,500 of student loan interest they paid during the year. The changes apply to taxable years beginning after December 31, 2024.
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