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- Medical Student
I am trying to see if anyone knows if residency loans are eligible for tax deduction.
According to half of the companies that offer this loans, they say no. Mainly because they are not used to pay for tuition, and are not set up to go through a financial aid office to be calculated in the Cost of Attendance (COA). Since residency does not have tuition and other fees. There are no qualified educational expenses.
Other companies state that they are eligible becuase they further education.
Any tax professional out there that can clarify this??
According to half of the companies that offer this loans, they say no. Mainly because they are not used to pay for tuition, and are not set up to go through a financial aid office to be calculated in the Cost of Attendance (COA). Since residency does not have tuition and other fees. There are no qualified educational expenses.
Other companies state that they are eligible becuase they further education.
Any tax professional out there that can clarify this??
