Q. If I did use AOE can I claim the entire purchase price?
A. Yes. You are considered as having paid for the course material (the required computer) with borrowed money.
Q. Can I claim the interest paid.
A. No.
A separate issue:
A full time unmarried student, under age 24, even if you don't qualify as a dependent, is only eligible for the refundable portion of the American Opportunity Credit if he supports himself by working. You cannot be supporting yourself on parental support, 529 plans or student loans & grants. It is usually best if the parent claims that credit.
