Is student loan still tax deductable when refinancing a student loan with a personal loan?
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.
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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.
BUSINESS LOANS in Less than 7 Days! Get up to $100K
Loan wont qualify as you will have nothing in writing to say that it.
Loan wont qualify as you will have nothing in writing to say that it is student loan interest.
For the loan interest payments on the student loan interest that will have the beginning of the loans premium and thats about it remember who ever pays the student interest statement from your cosigning on the loans premium.
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