MIT Student Financial Services How will I afford an MIT education

DEDUCTIBLE STUDENT LOAN INTEREST

The student loan interest deduction is available for all education loans, including federal and nonfederal loans, student loans and parent loans.

Amount

You may deduct up to $2,500 per year of your education loan interest fees.

Eligibility

You are eligible if your modified adjusted gross income is less than $75,000 for single taxpayers, heads of household or qualifying widow(er)s; $150,000 if married filing jointly.

More information

IRS Publication 970 – Tax Benefits for Education (chapter 4)

Student Stories Fausto Morales
Class of '12

Fausto is one of thousands of students who are paying much less than MIT's "sticker price" - because we meet every student's full financial need.

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Outside scholarships

There are hundreds of outside private scholarships for every type of student.

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