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If the parents sign the student loan so they can take the IRS fees, net of taxes, or, if the student is to delay payment until after graduation, when you can use the deduction?

Cynthia Baker

in Student Loans

1 answer

1 answer

Carlton Burgess on May 23, 2018

The answer is a Tax credit of tuition and fees . For most parents, Tax benefits for higher education can be concluded only on the amount of Deposit and fees paid, not for loan the money used for room and Board, and in most cases not from books. If the student has government grants and scholarships to pay part or full tuition, these funds must be used for tuition. Then, the amount available for tax refund is only what is left of the invoices for training and the other 2/3 of loan to go for food, accommodation and living expenses, which do not have a tax refund.

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