May A Parent Claim The Student Loan Interest Deduction If The Parent Borrows To Pay His/Her Childs Costs Of Attending College?

Yes. A parent may claim the student loan interest deduction if the parent borrows money to pay the costs of attending college for members of the individual's family or household and incurs the debt in a year in which the individual supplies more than half of the student's support.

The information on this page is meant to provide a general overview of the law. The laws in your state and/or city may deviate significantly from those described here. If you have specific questions related to your situation you should speak with a local attorney.

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