I have student loans in Canada. I am now a resident of the US and I am filing a tax return in the US. Can I deduct the student loan interests paid on my Canadian loan?

[wangster127]

The loans were all used to pay for a Canadian University. 

[Marketstar]

Yes, you can-the loan need not be provided by a US lender.

A qualified student loan is a loan you took out solely to pay qualified higher education expenses that were: 

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

·         For education provided during an academic period for an eligible student; and 

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

·         Loans from a related person or a qualified employer plan do not count as qualified student

          loans.

[wangster127]

Is a student line of credit that was used to pay for living expenses and also tuition considered a student loan?

Thank you so much!

[Marketstar]

Yes, if it meets the above qualifications, but the school must be an eligible academic institution. An eligible educational institution is generally any college, university, vocational school, or other postsecondary educational institution eligible to participate in a student aid program administered by the U.S. Department of Education.
<a rel="nofollow" target="_blank" href="https://ttlc.intuit.com/questions/1900368-what-is-an-eligible-school">https://ttlc.intuit.com/questi...>

[wangster127]

Thank you so much Vince!

[Marketstar]

Your welcome , and thanks for choosing TurboTax!

[wangster127]

Sorry, last question. How do I verify if the universities i went to is eligible? The two I went to are listed on the FAFSA website as schools eligible for Federal Student Loan Program.

[Marketstar]

Then they are eligible. See on-line search for eligible institutions:  <a rel="nofollow" target="_blank" href="https://fafsa.ed.gov/FAFSA/app/schoolSearch?locale=en_EN">https://fafsa.ed.gov/FAFSA/app/schoolSearc...>

[wangster127]

Hmm...My university (University of New Brunswick) isn't on there because it's located in Canada.