Q. Should I report college tuition I have paid with student loans?
A. Yes. Tuition, and other other qualified educational expenses, paid with loan money, count toward claiming the education credit. Loan money (unlike scholarships) is the same as your money, since it has to be paid back.
If you are claimed as a dependent, by your parents, they will claim the tuition credit, on their return. You do not claim it on your return, even though it was paid with "your money".
