There is no limit on the amount of interest you can claim as deduction under this section.Actual interest paid can be claimed as deduction. The deduction is available for a maximum of 8 years or till the interest is paid, whichever is earlier. Therefore, this has to be claimed in 8 successive years by the tax payer or earlier when the interest is paid in full.You can obtain a statement from the Institution which has provided you the loan to identify the interest payout for each year. ::::: Go on then grab your next degree. Best wishes.