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Education Credits

Question: Can I claim an education credit for higher education expenses paid by a government-subsidized loan?

Answer:

Higher education expenses paid with the proceeds of a government-subsidized loan may qualify for the credit if you must repay the loan. The credit is claimed in the year in which the expenses are paid, not in the year in which the loan is repaid.

Additional Information:


Category: Child Care Credit, Other Credits
Subcategory: Education Credits

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The OMB number for this study is 1545-1432.
If you have any comments regarding this study, please write to:
IRS, Tax Products Coordinating Committee
SE:W:CAR:MP:T:T:SP
1111 Constitution Avenue NW
Washington, DC 20224