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Is there any tax benefit if I take out a student loan for my daughter?

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Is there any tax benefit if I take out a student loan for my daughter?




Can you please mention what student loan you've taken for your daughter?

You can claim the student loan interest deduction from your taxes for making payments on your child’s loan. But, you can only take the deduction if you are personally liable for that loan. This means that Stafford, Perkins, and PLUS Graduate loans will not be deductible to you since the student is the borrower.

Sub: #1 posted on Tue, 01/16/2018 - 15:10

tiarajoseph11 tiarajoseph11

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Yup, students loans are tax deductible. You will get the tax benefit.

Sub: #2 posted on Tue, 01/16/2018 - 16:49

sanderspatricia29 sanderspatricia29

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You can get tax deduction only if you're personally accountable for the student loan. You can only deduct the part of each loan payment that represents interest.

Sub: #3 posted on Tue, 01/16/2018 - 17:53

SC SC
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