How does one deflect compliments?

I don’t like to toot my own horn, but I would call myself a decent guy. I’m rather good with most subjects, and I often help fellow students with homework and just understanding those difficult math questions.

Often I receive praise and general thanks or compliments such as, “you’re smarter than me”, and things of that nature. I don’t know what to say in response. I could say that I just understand the problems better, but that seems like I’m putting down their compliment as if it doesn’t mean anything.

I could also say that they are just as smart, but that seems like flattery. There are a dozen of answers that I could think of, none of which would get a good result.

Ideas?