Yes, you only can your dependent child's education expenses, even if you will not be paying off the loans which were used to pay these expenses.
The following is an extract from a document from the IRS:
Who can claim a dependent's education expenses.
If a student is claimed as a dependent on another person's tax
return, all qualified education expenses of the student are treated as having
been paid by that person. Therefore, only that person can claim an education
credit for the student. If a student is not claimed as a dependent on another
person's tax return, only the student can claim a credit.
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