If you are claimed as a dependent on someone else's taxes (usually your parents), then you don't qualify for the deduction even if you are paying the interest yourself. (survivingstudentloans.com)
You may also be able to qualify for a deduction for any student loan interest paid. (thecollegeinvestor.com)
If you're a homeowner, you probably qualify for a deduction on your home mortgage interest. (turbotax.intuit.com)