Are college loans considered taxable income?
Question by puckstuckny6: Are college loans considered taxable income?
I only ask cuz i only made 1900 last year, but i took out 23,000 in school loans, and was hoping I could use that towards my rebate lol
Best answer:
Answer by kckid2
No, loans are not taxable.
If you default, then you may have income.
What do you think? Answer below!
Tags: College, Considered, Income, Loans, Taxable
No – sorry.
No, loans aren’t reportable, and aren’t qualifying income toward the rebate.
Money from loans is not income and is not taxable.
Yes you can. Up to 2,500 is tax deductable . Claim it as “educational expenses”. (tax credit)