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Increased Tax Deduction for Student Loan Interest

This bill increases the amount you can deduct from your taxes for student loan interest. This means people repaying student loans could pay less in taxes, leaving them with more money. These changes are set to apply to tax years beginning after the bill becomes law.
Key points
The maximum student loan interest deduction increases to $5,000 ($10,000 for joint filers).
The income-based limitation for the deduction is removed, allowing more people to benefit regardless of their earnings.
You cannot claim this deduction if you already deduct the same amount under another tax rule.
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Status:
Expired
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Additional Information
Student Loan Interest Deduction Act of 2021
Print number: HR 4726
Sponsor: Rep. Swalwell, Eric [D-CA-15]
Process start date: 2021-07-27
System Note: Lustra is free, publicly auditable civic infrastructure, with full source code available on GitHub. You are reading sterilized legislative data, processed by our radical neutrality engine to strip political spin and retain factual mechanics. We process only official government data. Original documents remain the authoritative source, always verify them if you can.
Summarized by: gemini-2.5-flash-preview-05-20
Source data: api.congress.gov
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Summary & Status

Key Questions about Increased Tax Deduction for Student Loan Interest

A structured overview of the legislative process, official sources, status and civic context.

What is the official ID of this bill?

The official print number for this legislation is HR 4726.

Which chamber initiated this legislation?

This legislation was initiated in the House of Representatives.

When did the legislative process begin?

The process officially started on 2021-07-27.

What are the main provisions?

Key points include:

  • The maximum student loan interest deduction increases to $5,000 ($10,000 for joint filers).
  • The income-based limitation for the deduction is removed, allowing more people to benefit regardless of their earnings.
  • You cannot claim this deduction if you already deduct the same amount under another tax rule.

What is the specific legal status?

The current status is Expired.

Where can I read the full text of this legislation?

The full official text is available at: View full text

Who is the primary sponsor?

The primary sponsor is Rep. Swalwell, Eric [D-CA-15].

What is the latest detailed status?

The latest detailed status is: Referred to the House Committee on Ways and Means.

Is this summary verified?

Yes. This content was analyzed by AI and verified by the Lustra Judge System on 2025-12-28.

Analysis and Potential Impact of HR 4726

We don't know, that is up to you to decide. Summarizing raw data with AI is fundamentally different from predicting socio-economic outcomes. As of 2026, we believe impact assessment strictly requires a human in the loop to verify and judge. Review our public AI processing logs for full transparency, and use Lustra to track active legislation for instant status push notifications.

CATEGORIES

Taxes Education