Can I claim exemption on student loan from a bank in India

[saautade]

I paid off a student loan from an Indian Bank last year. Can I claim tax benefit on that?

[Marketstar]

Per IRS;  a Qualified Student Loan is:

This is a loan you took out solely to pay qualified education expenses (defined later) that were:

For you, your spouse, or a person who was your dependent when you took out the loan;

Paid or incurred within a reasonable period of time before or after you took out the loan; and

For education provided during an academic period for an eligible student.

Loans from the following sources aren't qualified student loans.

A related person

A qualified employer plan

https://www.irs.gov/publications/p970/ch04.html#en_US_2015_publink1000178237

If your loan qualifies as per the above you can deduct student loan interest paid in 2015, but not loan principal.

To report student loan interest in TurboTax:

• Click My Account (Top right of your screen).
• Select Tools.
• In the pop up window, select Topic Search.
• In the search bar, type in 1098t
• Highlight it and select GO, and follow the prompts.