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elrond
Feb 5, 2014, 10:19 PM
Hi,
I have an active student loan from an Indian bank which I had taken for paying towards my Master's degree in the US. Can I take a student loan interest deduction for that loan towards my tax ?

Thank you.

AtlantaTaxExpert
Feb 5, 2014, 11:28 PM
Yes, provided the loan was ONLY for the fees and tuition.

If it was a mixed loan that also provided funds for living expenses, then you CANNOT deduct the interest.