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Is student loan still tax deductable when refinancing a student loan with a personal loan?
By admin | June 12, 2008
Andrew M asked:
My daughter has two very high interest student loans. Her credit won’t let her do anything, but I can “refinance” it with me getting the loan using my credit. But is it still a “student” loan that she can deduct. She is making the payments and her name will be also on the loan (ironically, she will co-sign for me). This seems to be some gray area once the loan gets moved around. Just want to make sure the “chain of custody” still makes the new loan interest tax deductable. Hope this made sense and thanks for your help.
Cory
My daughter has two very high interest student loans. Her credit won’t let her do anything, but I can “refinance” it with me getting the loan using my credit. But is it still a “student” loan that she can deduct. She is making the payments and her name will be also on the loan (ironically, she will co-sign for me). This seems to be some gray area once the loan gets moved around. Just want to make sure the “chain of custody” still makes the new loan interest tax deductable. Hope this made sense and thanks for your help.
Cory
Topics: student loans |
June 16th, 2008 at 4:23 am
Nope, sorry, but personal loan won’t qualify, as you will have nothing in writing to say that it is student loan interest.
June 19th, 2008 at 1:45 pm
The beginning of the right to deduct those interest that you receive 1098e student loan shell pay for the tax return up 2500 the tax season you are paying student interest statement from what understood your cosigning on their tax return up 2500 the loans premium and thats about it wasnt that very clear but.
June 21st, 2008 at 4:29 am
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