I had taken out a loan for to attend college, woul...
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704d06b0446a
New Member

I had taken out a loan for to attend college, would that count as college expenses even though I haven’t started paying back on it yet?

 
2 Replies
DavidD66
Employee Tax Expert

I had taken out a loan for to attend college, would that count as college expenses even though I haven’t started paying back on it yet?

Neither loans for college nor the repayment (principal or interest) qualify as college expenses.  A qualified education expense would be the tuition you paid with the proceeds from a loan, not the loan itself.

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NCperson
Level 15

I had taken out a loan for to attend college, would that count as college expenses even though I haven’t started paying back on it yet?

begin with the 1098T as the qualified expenses.  As noted, the loan repayment is not a qualified expense. 

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