What student loan borrowers need to know about the 2023 tax season

The best way to determine if you have potential interest to claim is to contact your loan servicer, said Betsy Mayotte, president of The Institute of Student Loan Advisors.

Mayotte said to keep in mind that there are income phaseouts for the break, and individuals who earned above $85,000 and couples who made more than $175,000 in 2022 are not eligible at all.