If I was a full time student at an undergraduate school that took out a loan each year to pay for tuition and living expenses (lived on campus), does that mean I made qualified student loan payments?
If I was a full time student at an undergraduate school that took out a loan each year to pay for tuition and living expenses (lived on campus), does that mean I made qualified student loan payments?
Making loan payments means making payments to reduce the outstanding balance. Most student loans remain in deferment while you are a student and you don't make payments until you leave school.
Tuition and fees paid out of loans are counted as paid out-of-pocket and qualify you for education credits.
You should have received a form 1098-T. Education credits can be claimed by your parents if they claim you as a dependent. Otherwise, you can claim them.
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