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January 21, 2021
Question

Can I claim student loan interest on a loan that's in the co-signer's name?

  • January 21, 2021
  • 1 reply
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My mom cosigned one of my private student loans, as most lenders don't allow college students to take out loans without a cosigner. I make all the payments on all of my loans, but for this specific one, all letters and tax information is addressed in the co-signer's name (my mom). I paid a significant amount of interest in 2020. Can I claim this, even though it's in her name?

1 reply

Employee
January 21, 2021

Either you or your mother can take the student loan interest deduction, but not both of you.