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.
Nichole J. Gerardi
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.
Nichole J. Gerardi
Tags: scholarship, college grants, college loans, pell grants, student loans, college funding,
