Comments for Child's Student Loan

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Jul 10, 2015
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Be Careful With Child's Student Loan
by: Anonymous

Student loans are to be used for instructional expenses, therefore if you decide to 'accept' associate unsubsidized loan, and they do not send it to your faculty, or they send you associate 'overage' check - - do not let anyone pick up on your comment here to get your own place.

And if you must get 'busted' - loans used for anything apart from specific faculty connected expenses - can get you barred from the loan program, and you may jeopardize your children's borrowing future for varsity

Mar 28, 2011
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Student Loan Interest Deduction
by: Stephanie

Hello,

Thank you for your question.

Student Loan Interest can only be deducted for you, your spouce or your child if claimed as a dependent. So, you can claim the amounts you paid for your childs student loan interest only if they are claimed as your dependent on your tax return. Otherwise, they can claim it as a deduction on their own tax return.

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