Education

If your loan meets the following IRS requirements, you can deduct the interest.

https://www.irs.gov/publications/p970/ch04.html#en_US_2015_publink1000178237

Qualified Student Loan:

This is a loan you took out solely to pay qualified education expenses (defined later) that were:

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

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

  • For education provided during an academic period for an eligible student.

Loans from the following sources aren't qualified student loans.

  • A related person.

  • A qualified employer plan.