| Career Training loan, not able to deduct interest? My son has a "career training" loan thru Sallie Mae which we are cosigners on. The total amount is $62,000+ and all of it went towards his training to be a helicopter pilot. Because the piloting school is not affiliated with a Tech, community, or state college, he was not able to get a federal loan. The interest on this loan is 10.25% and we were told that he is not able to claim the interest on his taxes like a federal student loan. I was told to contact an accountant for some suggestions. Please help guide in the right direction. Thanks BFB. |