When looking at your clients tax situation, you see they have paid a sizable amount of student loan interest for the year. Which of the following is not a good piece of advice to give them?

1.)The tax law allows taxpayers to deduct up to $2,500 of student loan interest expenses

2.)This falls under itemized deductions and so you only receive the credit if you dont take the standard deduction for the year

3.)To qualify for student loan interest deductions, the loan proceeds must have been used to pay for qualified education expenses

4.)In addition to student loan interest expense, loan origination fees, credit card interest expenses, and any capitalized interest expenses are also deductible