Are student loans outside the federal student loan program tax deductable?
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Tax Question. If student Loans are deductible, Then would a loan Outside the Federal stafford student loan program would be qualified student loan if funds was used for education expenses during the time of the academic period? IE if i gotten a loan from a credit union or Financing company?
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Answer:
Student loans are not tax deductible. You can use loans to cover college expenses for education tax credits, but this only covers up to $4000 in expenses.
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