It wasn’t that very clear, but from what I understood your co-signing on the loan. She’ll pay for the loan’s premium and interest. and that’s about it …
Remember: Who ever pays the student interest, that person will have the right to deduct those interest payments on their tax return (up 2,500).
The only thing that I can figure that will absolutely confirm that you are paying a student loan is that if at the beginning of the tax season, you receive a 1098-E Student Loan Interest Statement from your Lender.
December 1st, 2008
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Nope, sorry, but personal loan won’t qualify, as you will have nothing in writing to say that it is student loan interest.
It wasn’t that very clear, but from what I understood your co-signing on the loan. She’ll pay for the loan’s premium and interest. and that’s about it …
Remember: Who ever pays the student interest, that person will have the right to deduct those interest payments on their tax return (up 2,500).
The only thing that I can figure that will absolutely confirm that you are paying a student loan is that if at the beginning of the tax season, you receive a 1098-E Student Loan Interest Statement from your Lender.