Interest on student loans only deductible first 5 years of repayment as of 2012.

The Tax Relief Act of 2010 (“TRA 2010″) carried over the ability to continue to deduct interest without regards to
date the loan was taken out. But, like many of those “extender provisions” passed last year, it is not permanent. After 2012, the tax law will revert back to the pre-EGTRRA rules and interest on a student loan will only be deductible for the first five years of repayment.