When can the student loan interest deduction not be taken?

The student loan interest deduction has specific eligibility requirements, and one critical requirement is that the borrower must not be claimed as a dependent on someone else's tax return. If the individual is considered a dependent, they cannot claim the deduction themselves, as the tax benefits would typically be attributed to the person claiming them as a dependent.

The deduction is designed to assist those who are managing their student loans and are responsible for making the payments on those loans. Thus, being unable to claim the deduction because one is a dependent ensures that the tax benefit is appropriately allocated and only available to those taxpayers who independently manage their tax liabilities.

The other options do not affect eligibility for the deduction. Full-time enrollment does not disqualify someone from claiming the deduction; rather, the borrower needs to be liable for the interest on the loans. Loans from private sources are generally considered eligible too, and the age of the borrower (including those under 18) does not directly restrict the ability to claim this deduction.