For the Minnesota Student Loan Credit, is a Nelnet payment plan a qualifying student loan?

[JulieCo · Accepted solution]

Yes, as long as the payment plan is for your own student loan (or for your spouse's loan if you are married and filing jointly) at an eligible postsecondary college or university and it is not a loan through an employer plan.  The two criteria the state uses to determine if you may qualify for the credit are 1) if you have taxable earned income and 2) you made payments toward your own qualified education loans.

Per the Minnesota Department of Revenue, "a qualified education loan includes loans used for the cost of attendance at an eligible postsecondary college or university. This does not include loans from a relative or a qualified employer plan." 

Click on this link for more information:   MN Student Loan Credit Info 

Note:  MN Revenue recommends that you keep statements and/or cancelled checks from Nelnet (your loan institution) as a backup for the credit.  

[farom30]

Can I fill this out if I am not in school anymore but making my payments?