Comments on: Do I get tax credits for student loan interest while still in school and the loan is in deferment? http://raiseyourcreditnow.com/do-i-get-tax-credits-for-student-loan-interest-while-still-in-school-and-the-loan-is-in-deferment/ Wed, 17 Aug 2011 05:23:38 +0000 hourly 1 http://wordpress.org/?v=3.2.1 By: superstar_81882 http://raiseyourcreditnow.com/do-i-get-tax-credits-for-student-loan-interest-while-still-in-school-and-the-loan-is-in-deferment/comment-page-1/#comment-871 superstar_81882 Mon, 06 Jul 2009 10:28:03 +0000 http://raiseyourcreditnow.com/do-i-get-tax-credits-for-student-loan-interest-while-still-in-school-and-the-loan-is-in-deferment/#comment-871 You qualify for the student loan interest deduction only if you actually made a payment toward student loan interest during the tax year in question. The lender would send you a statement at the end of the year that shows your total interest paid. If your loans are deferred, although they are still accruing interest because they are unsubsidized, you are not actually making any payment toward that interest. Therefore, you would not qualify for that deduction. You qualify for the student loan interest deduction only if you actually made a payment toward student loan interest during the tax year in question. The lender would send you a statement at the end of the year that shows your total interest paid.

If your loans are deferred, although they are still accruing interest because they are unsubsidized, you are not actually making any payment toward that interest. Therefore, you would not qualify for that deduction.

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