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Level 1
March 26, 2020
Question

If I was a full time student at an undergraduate school that took out a loan each year to pay for tuition and living expenses (lived on campus), does that mean I made qualified student loan payments?

  • March 26, 2020
  • 2 replies
  • 21 views
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2 replies

Level 15
March 26, 2020

Making loan payments means making payments to reduce the outstanding balance.  Most student loans remain in deferment while you are a student and you don't make payments until you leave school. 

Level 15
March 26, 2020

Tuition and fees paid out of loans are counted as paid out-of-pocket and qualify you for education credits. 

 

You should have received a form 1098-T. Education credits can be claimed by your parents if they claim you as a dependent. Otherwise, you can claim them.

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