Can I claim the Hope Credit or the Lifetime Learning Credit for higher education expenses paid by a government-subsidized loan?
Higher education expenses paid by the proceeds of a government subsidized loan expenses may qualify for the credit if you must repay the loan. The credit is claimed in the year in which the expenses are paid, not in the year in which the loan is repaid. For more information, refer to Form 8863 (PDF), Education Credit (Hope and Lifetime Learning Credits), Publication 970, Tax Benefits for Education, or Tax Topic 605, Education Credits.
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- Can I claim an education credit for higher education expenses paid by a government-subsidized loan?
