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Home > Education > Other Education   »   Career Training loan, not able to deduct interest?

 
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Old Oct 5, 2007, 03:52 PM
faye bosek
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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.

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