My spouse and I received a chunk of cash that we would like to use to pay off student loan debt. The cash is not enough to pay off both of our loans. If we simply put the cash towards the highest interest loans, one of us will no longer have any student loans under our name. We usually file taxes "married filing jointly" in the United States.
When filing jointly, will we receive more tax-deductions if both of us have student loans under our name? If that is the case, would it be better to split the cash across each person's loans?