Q. I Graduated from College about a year and a half ago, but I am still paying Student loans. Am I still eligible for a Tuition/Education Credit.
A. No. To be eligible for an education tax credit, you must have taken the class and paid for it in the same tax year.* So, back when you were taking classes, you (or your parents) were eligible for a credit, even if you were paying for it with money from student loans.
*There is one exception: if you pay, in 2023, for classes starting early in 2024, you may claim the tuition credit on your 2023 tax return.
