Question
Student Loan Interest
Both of my children each took student loans in there names. When the loans became due monthly, they weren't able to make the payments in full. The rates were at 9% and they didn't qualify to refinance for any lower rates. Us, the parents refinanced the loans in our names for 5%. We make 1/3 of the payment and my son makes a 1/3 and my daughter makes 1/3 of the payment monthly. The Form 1098E comes in my husband and my name. Can all three of us claim student interest loan deductions for the amount of interest we each paid?
