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maimir
New Member

I am an unemployed/full time medical student and rely on fin. aid loans to pay for tuition and expenses. Would I be eligible to get tax credits, despite having no income?

My entire tuition and all other related educational expenses are paid for via loans, which are currently accumulating mind boggling amounts of interest. I do not have a job and therefore have zero income. I wasn't sure if there was a point to filing taxes and now am worried that I have been missing out on any benefits. 

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4 Replies

I am an unemployed/full time medical student and rely on fin. aid loans to pay for tuition and expenses. Would I be eligible to get tax credits, despite having no income?

Any scholarships or grants?
maimir
New Member

I am an unemployed/full time medical student and rely on fin. aid loans to pay for tuition and expenses. Would I be eligible to get tax credits, despite having no income?

Minimal amount, I think about $1000/year, but I am taking out about $55k-60k/yr in loans to cover everything.

I am an unemployed/full time medical student and rely on fin. aid loans to pay for tuition and expenses. Would I be eligible to get tax credits, despite having no income?

Nope.  The only credit that will pay you back without taxable income requires that you be 24 or over and in the first 4 years of college (an undergrad).
Hal_Al
Level 15

I am an unemployed/full time medical student and rely on fin. aid loans to pay for tuition and expenses. Would I be eligible to get tax credits, despite having no income?

No.

Although you hear about people getting money from the government just for filing a tax return, none of the "refundable" credits apply in your circumstances.

There is a refundable education credit, but it is only available to undergrads. The other refundable credits require earned income and usually child dependents (in addition to the earned income).

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