It's complicated.
First, and most important: tuition, fees and other qualified expenses (books and other course materials) paid by loan money qualifies for the credits.
Here's the complicated part. A student, under age 24, is only eligible for the refundable portion of the American Opportunity Credit (AOC) 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.
Educational expenses are part of your support. So, even though you have earned income, it's unlikely that you paid more than half of your support with that earned income, since loans paid for a significant portion of your support.
If you are 24 or older, or married, all that doesn't matter.
That support rule does not apply to the Lifetime Learning Credit (LLC) or the non refundable part of the AOC.
You cannot claim a credit if you are, or can be, claimed as a dependent by someone else.
