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New Member
posted Jan 21, 2020 6:35:03 PM

I just started college in october 2019. Should I put my financial aid and subsidized Stafford loans and unsubsidized stafford loans even if I've not recieved any of it?

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1 Replies
Level 15
Jan 21, 2020 6:58:01 PM

No.  Loans, themselves, are not reported anywhere on your tax return. What you do report is what expenses the loan money paid for. So, if tuition, fees, and course materials (books etc) were paid for, in 2019, you (or your parents, if you are their dependent) may claim an education credit or deduction based on those payments.

 

Loans and scholarships are treated differently, for tax purposes. Loan money is considered as yours, since you are obligated to pay it back, some day.