Cindy attended State University during 2011-2015. She lived at home and was claimed by her parents as a deduction during the entire duration of her education. She incurred education expenses of $10,000 during college of which $2,000 was paid for by scholarships. To finance her education, she borrowed $7,000 through a federal student loan program and borrowed another $3,000 from a local lending institution for educational purposes. After graduation, she married and moved with her husband to a distant city. In 2016, she incurred $700 of interest on the federal loans and $300 on the lending institution loan. She filed a joint return with her husband showing modified AGI of $128,000. What amount of student loan interest can Cindy and her husband deduct in 2016, if any?