What are qualified student loans?
The national service legislation defines “qualified student loan” as a loan backed by the federal government under Title IV of the Higher Education Act (except PLUS Loans to parents of students), or under Titles VII or VIII of the Public Health Service Act. You may also use your AmeriCorps education award to repay a student loan made by a state agency, including state institutions of higher education.AmeriCorps education awards cannot be used to repay any other type of loan, even if the loan was obtained for educational purposes. You can use your education award to repay defaulted student loans as long as the loans meet the definition of “qualified student loan.
The national service legislation defines “qualified student loan” as a loan backed by the federal government under Title IV of the Higher Education Act (except PLUS Loans to parents of students), or under Titles VII or VIII of the Public Health Service Act. You may also use your AmeriCorps education award to repay a student loan made by a state agency, including state institutions of higher education. AmeriCorps education awards cannot be used to repay any other type of loan, even if the loan was obtained for educational purposes. You can use your education award to repay defaulted student loans as long as the loans meet the definition of “qualified student loan.
Related Questions
- I paid my qualified tuition and expenses with student loans or scholarships. Can I still claim a Hope or Lifetime Learning Credit or the Higher Education Tuition and Fees Deduction?
- I paid my qualified tuition and related expenses with student loans. Can I still claim a Hope or Lifetime Learning Tax Credit or the Higher Education Tuition and Fees Deduction?
- What are examples of some qualified student loans?
