Student Loan

[gutzinctx]

I have a client who return to college for her master degree. She paid her tuition with a student loan. Can she take the American Op Credit ?

[Roland Slugg]

No. The AOC is only available for the first four years of post-secondary education ... i.e. bachelor's degree. She may, however, be able to claim the Lifetime Learning Credit. Read the F-8863 instructions to see if she qualifies.

[Super Mom]

As long as she meets all the qualifications, loaned money is money you still get credit for.

[mactoolsix]

As long as she meets all the qualifications, loaned money is money you still get credit for.

Yes, if you paid expenses with funds from a loan, they are still qualified expenses (as long as they meet he other requirements). However, your op stated she is going for a masters degree. As Slugg pointed out, AOC is only available to undergraduates for four years.

Mike