Student Loan Interest

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  • Earl
    Senior Member
    • Mar 2006
    • 249
    #1

    Student Loan Interest

    Parent co-signed on student loan for child. Child is not a dependent and no longer in school. Parent over 65 and not working.

    Parent is paying student loan since child unable to make payments. It is my understanding that interest is deductible by parent since he is legally obligated to pay on the loan (co-signed). Am I correct in this?
    Tags: None
    • Gretel
      Senior Member
      • Jun 2005
      • 4008
      #2
      Yes, you are right, if kid was dependent at the time loan was taken out.

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