Zach attended Biola University during 2015-2019. He lived at home and was claimed by his parents as a dependent during his entire education. He incurred education expenses of $24,000 during college, of which $5,760 was paid for by scholarships. To finance his education, he borrowed $14,000 through a federal student loan program and borrowed another $10,000 from a local lending institution for educational purposes. After graduation, he married and moved with his spouse to a distant city. In 2020, he incurred $1,400 of interest on the federal loans and $1,000 on the lending institution loan. He filed a joint return with his spouse showing modified AGI of $127,000.

What amount of student loan interest can Zach and his spouse deduct in 2020, if any?