Are student loan payments considered higher education expenses? I cashed US savings bonds to pay my student loan and don't know if I can consider them education expense.

[KiaraE · Accepted solution]

Student loan payments are not considered higher education expense. You can't claim the loan itself, but the interest you paid during the year on a qualified student loan used to pay for tuition, fees, room and board, books and supplies for yourself, your spouse, or your dependent is deductible. This includes both required and voluntarily pre-paid interest payments.

• Student loan interest is reported on Form 1098-E. If you paid interest of $600 or more on a qualified student loan during the year, you'll receive this form from your lender.

Here's how to enter your student loan interest in TurboTax