@rekha_akhil
Additional information.
While you are entitled to claim the student loan interest deduction if you are obligated on the loan (a signer or cosigner) and if the loan paid for qualified expenses and if the student was your dependent when the loan was taken out, it is sometimes the case that a parent will be unable to deduct the interest because their income is too high. It is allowable for your child to deduct the student loan interest if they are also a signer or cosigner, even though you paid the interest. The interest is treated as if it was a gift from you to your child and and then your child paid the interest and can take the deduction. This treatment is not allowed for most tax deductions, which are only allowed to the person who actually paid the expense. However, in the case of student loans, your child could deduct the interest as long as the child is one of the signers on the loan even if your child did not pay the interest. You can’t take a double deduction, so either you or your child but not both could deduct the interest.
